EUR/USD: the situation remains unchanged and just as neutral (UOB)

UOB maintains a neutral view of the EUR/USD in the very short term.

"The short-term indicators point to an "oversold" situation, and this, added to signs of declining momentum, could lead to an initial consolidation phase.

The next support level at 1.1185 should not be reached in the near future.

Overall, the current consolidation phase may last a few days, and only an unlikely breakout of 1.1460 would indicate that the bearish phase is over.

In the short term, a move above 1.1430 would greatly increase the risk that 1.1297 is a short-term low."