EUR/USD: the euro's rally pace likely to slow down (UOB)

UOB believes that the EUR/USD has returned to its uptrend, but that the pace is slowing.

"The news of a possible "grand coalition" in Germany pushed the EUR above the major 1.2100 threshold, peaking at 1.2239 early this morning.

Only a return below 1.2120 would indicate that a temporary high is in place (1.2150 is also a solid support threshold)."