EUR/USD: the euro's rise on the forex today should be limited (UOB)

UOB believes that the EUR/USD will not manage to rise much higher on the forex today.

"In view of current overbought conditions, a sustained move above the previous peak around 1.2070 seems unlikely (next resistance level is at 1.2100).

Downward, a support level is present at 1.2000 but only a move under 1.1970 would indicate that a temporary top is in place."