EUR/USD: the euro decline could once again slow down around 1.15 (UOB)

UOB believes that the EUR/USD decline could once again stop in the 1.15 zone.

"The EUR/USD relapsed yesterday, marking a low at 1.1539. The solid drop seems incomplete, but in light of oversold conditions, any drop could be stopped by the low of last week near 1.1505/10 (minor support is at 1.1530).

Resistance is at 1.1590, but only a break above 1.1620 would indicate that the current decline has stabilised."