EUR/USD: the euro rebound should soon encounter solid resistance (UOB)

UOB believes that the EUR/USD rebound should slow down as it approaches resistance at 1.1680.

"The EUR/USD fell to a low of 1.1507 before posting a strong rebound towards a high of 1.1633 during the night.

At this point, a move above the next resistance level at 1.1680 is not expected.

Support is at 1.1575, followed by 1.1540. The lowest at 1.1507 should not be revisited in the very short term."