EUR/USD: risks remain to the downside, but the decline should be limited today (UOB)

UOB notes that intraday risks remain to the downside for the EUR/USD on the forex.

"The EUR/USD recorded a range within 1.1803/1.1874 last Friday. The daily close was down and the immediate bias is downward.

That being said, the bearish momentum is weak and solid support at 1.1760 should not let go easily (minor support at 1.1785). On the upside, only a move above 1.1850 would indicate that bearish pressures have eased."