EUR/USD: UOB expects pair to continue to decline to 1.0750 within next few days

In a note published today, UOB points out that the EUR/USD's test under 1.08 yesterday suggests that the bearish pressure will intensify in the coming days.

"However, the bearish momentum is not very impulsive, and the EUR/USD should slowly decline, rather than genuinely dive.

Overall, only a climb back above 1.0945 would indicate a weakening of the downward pressure, but we believe it is likely that the 1.0750 threshold will be hit first in the coming days."