EUR/USD: the euro's bearish correction at the end of last week may continue today (UOB)

UOB believes that the fall of the EUR/USD on the forex may continue in intraday.

"The EUR/USD exceeded the resistance level at 1.1980 and hit a peak at 1.2004 on Friday. The decline that followed seems to be able to continue, but any decline should not threaten last week's low at 1.1860 (1.1890 already set a solid support).

On the rise, only a return above 1.1975 would indicate that the slight bearish pressures have decreased (a minor resistance level is at 1.1945)."