EUR/USD: the euro could offer opportunities of selliing on rebounds (UBS)

UBS thinks that the EUR/USD can still rise and offers rebound selling opportunities.

"The EUR/USD is holding up well with rising European rates and uncertainty over US tax reform.

On the upside, 1.1670/75 was a high on Friday and during the night, and 1.1691, the post-NFP peak could offer selling opportunities with stops above the threshold of the post-BCE key break at 1.1740.

On the downside, 1.1620 is a first support level, ahead of 1.1580."