EUR/USD: the euro's rebound on the forex will likely not be very strong (UOB)

UOB notes that the EUR/USD rebound on the forex should not be very strong.

"The EUR/USD consolidated as expected, but closed near the daily high. The improved tone could lead to a test of the resistance level at 1.1675, but a clear break above this level is not expected (above, 1.1705 is a rather strong resistance level).

The support level is at 1.1610 and a stronger support threshold is at 1.1590."