EUR/USD: the current bearish phase remains intact below (UOB)

UOB believes that the probabilities of a EUR/USD decline on the forex have diminished.

"The EUR/USD hit a new low of 1.1812, before rebounding quickly.

The pair must remain below 1.1910/15 or the risk of a short-term trough would rapidly increase.

The bearish phase that began two weeks ago remains intact, and the next threshold to watch is around 1.1800.

The resistance level is at 1.1910, but only a break above 1.1960 would indicate that the current bearish phase is over."