EUR/USD: the euro remains robust on the forex for the time being (UOB)

UOB notes that the EUR/USD maintains a robust tone on the forex in the very short term.

"The EUR/USD recorded a peak at 1.1675 on Friday before ending the day on a firm note.

The tone has improved, and an extension to 1.1700 would not be surprising. That being said, the next resistance level at 1.1720 is probably not threatened, at least for today.

On the downside, only a move below 1.1605 would indicate that the upward pressure has eased (minor support is at 1.1630)."