EUR/USD: the euro should remain heavy on the forex in the very short term (UOB)

UOB continues to believe that the EUR/USD could fall back into its range.

"No change of view compared to Tuesday's analysis.

The EUR/USD rebounded slightly after hitting a low at 1.1582 on Tuesday.

We continue to regard last week's peak at 1.1733 as a short-term top and believe this level should remain intact this week.

The rapid decline since Friday could spread, but at this point we consider any decline as part of a consolidation range and not the beginning of a sustained decline."