EUR/USD: the euro should remain under pressure in the very short term (UOB)

UOB believes that the EUR/USD should remain under pressure on the forex in the very near future.

"Pressure on the EUR/USD has clearly shifted downward yesterday, but at this point it is unclear whether the current decline can be sustained.

That being said, unless it moves back above 1.1720, the EUR/USD should remain under pressure, although any decline should not break sharply below 1.1630.

The next support level comes at 1.1590 and should not be threatened today."