EUR/USD: the euro could pursue its decline a bit further today (UOB)

UOB believes that the EUR/USD could still fall back slightly today to reach the support level at 1.2260.

"The EUR/USD touched a low at 1.2280 before bouncing back. Despite the rebound, the tone remains weak and a stronger drop towards 1.2260 would not be surprising.

However, the next support level at 1.2235 is a major threshold and should not be threatened today.

Resistance is at 1.2330, but a stronger threshold is right above Monday's peak at 1.2350."