EUR/USD: the euro could stretch a bit higher today (UOB)

UOB believes that the EUR/USD could maintain its upward pressure today.

"The EUR/USD managed to hit a high of 1.2330 on Monday, before ending the session on a solid note.

The tone has improved further, and a test of the next resistance level at 1.2350 seems likely before a pullback takes place (the probability of a rise to 1.2380 is not high at this point).

Only a move below 1.2280 would indicate that upward pressures have eased. A minor support level is at 1.2300."