EUR/USD: the euro could enter a consolidation phase in the very short term (UOB)

The EUR/USD pair may have a hard time pursuing its rise in the near future.

"The EUR/USD strongly rose upon Monday's open and hit a high at 1.0935. Although a continuation of the rise seems likely in the coming days, the current rally seems "too high, too fast", and a sustained move above 1.0935 seems unlikely (next resistance level at 1.0960). That said, any decline should find solid support near 1.0820, followed by 1.0775. Friday's close at 1.0725 should not be revisited."