EUR/USD: the pair remains calm but we prefer to sell at this point in time (UBS)

UBS still prefers to sell the EUR/USD in the very short term.

"The EUR/USD has gone from shaky within a narrow range to just being in a narrow range. There has been very little interest in the pair during the last 48 hours, with a rebound from Monday's lows, but 1.1610/20 remains solid for the moment.

With this current price action, we continue to favour the sale of the pair with a stop above 1.1645, with a return towards the recent lows near 1.1550/60 as the target."