EUR/USD: has the euro just recorded short-term market low? (UOB)

UOB hints at the possibility of a short-term market low for the EUR/USD.

"The EUR/USD hit a 2-week low at 1.1264, before Powell's comments pushed it near 1.14.

The 1.1370 resistance break indicates not only that bearish pressures have eased, but it also significantly increases the risk of a short-term low of 1.1264.

A clear break of 1.1400 "would confirm" that the EUR/USD had a short-term low at 1.1264, and that the pair could move above that level in the next few weeks.

This scenario would not be surprising as long as the EUR/USD does not drop below 1.1290."