EUR/USD: euro decline seems to be slowing, possible rebound in very short term (UOB)

UOB believes that the decline of the EUR/USD on the frex could slow down today.

"The sharp drop in the EUR/USD over the last few days is showing signs of slowing. This, in addition to overselling conditions suggest that a continuing sustained decline is unlikely at this point. A low around 1.0835 is possible, but 1.0850 should hold for a rebound in the 1.0895/1.0900 direction."