EUR/USD: the euro's climb on the forex should soon be slowing down (UOB)

UOB believes that the EUR/USD will likely continue to push higher on the forex but without any sort of strong acceleration for the moment.

"A new high was recorded at 1.1879, and in the absence of signs of weakening, the EUR/USD should continue to rise towards the next resistance level at 1.1900.

At this point, a sustained move above this level is not expected (next resistance level is at 1.1930).

Support is located at 1.1835, but a more solid threshold follows near 1.1810."