EUR/USD: the euro seems able to accentuate its decline on the forex in the very short term (UOB)

UOB believes that the EUR/USD can decline some more on the forex today.

"The EUR/USD fell on solid US employment data and ended the week on a weak note (closing at 1.1555).

The rapid decline seems to have enough momentum to retreat below last week's lows at 1.1527, but at this point, a clear breakout of the 1.1500 level seems unlikely.

A resistance level is at 1.1585 but only a breakout of 1.1610 would indicate that bearish pressures have eased."