EUR/USD: the surprising rebound of the euro should mark a pause today (UOB)

UOB believes that the EUR/USD may struggle to pursue its rebound on the forex today.

"The EUR/USD rebounded strongly after reaching a low of 1.1864.

A temporary trough is probably in place, and while the rebound extends above 1.1953, the next resistance level at 1.1980 should not be seriously threatened.

Support is located at 1.1915, followed by 1.1890. The low at 1.1864 is probably out of range, at least for today."