EUR/USD: the euro maintains a positive bias on the forex in the short term (UOB)

UOB believes that the EUR/USD maintains a positive bias and could rise to 1.19 in the near term.

"After four consecutive daily bullish closes, the EUR/USD fell on Friday and closed lower at 1.1786.

Despite the weak price action, we continue to detect a positive tone and do not rule out the possibility that the EUR/USD could record a stronger rebound correction at 1.1900.

Only a breakout of the key support level at 1.1690 would indicate that the current positive bias has eased."