EUR/USD: short-term euro rally prospects have improved (UOB)

UOB believes that the EUR/USD has improved its bullish tone.

"The rapid rise of the EUR/USD and the breakout at 1.1750 was not anticipated (1.1767 was the high).

While the bullish momentum has improved considerably, the EUR/USD does not seem ready to test the major resistance level at 1.1790 at the moment (minor resistance is at 1.1770).

Support is at 1.1720, but a stronger threshold is closer to 1.1695."