UOB believes that the fall of EUR/USD may still continue to occur on the Forex in the very short term.
«While the fall of EUR/USD since the peak at 1.2031 seems stretched, there are not yet signs of stabilization, and a further fall seems likely.
A motion under 1.1860 could lead to a rapid fall toward the bottom of last week near 1.1835, with a possible extension to 1.1820.
Has the upside, only a movement above 1.1950 could indicate that the current fall has stabilized. A minor strength comes to 1.1905. «