EUR/USD: the euro could pursue its climb towards 1.1880 (UOB)

UOB believes the EUR/USD could continue its rise on the forex and re-cross the threshold of 1.1880 in the near short-term.

"The EUR/USD rebounded after hitting a low at 1.1728 and extended its rise after the US close. The rally is accompanied by an increase in momentum and a continuation of the move towards 1.1880 seems likely (the next resistance comes at 1.1920 followed by last month's peak near 1.1960).

On the downside, only a move below 1.1790 would indicate that bullish pressures have eased."