EUR/USD: the euro may still attempt to make an upward break (UOB)

The EUR/USD's rise is weakening, but the pair may still push up a bit, says UOB.

"The EUR/USD tested the 1.1610 level, but then pulled back. The bullish momentum lacks strength, but the pair may still attempt to break through 1.1610.

That being said, there is another resistance level at 1.1620 and at this point, the prospects for a sustained break above this level are not high (the next resistance is at 1.1650).

Support is at 1.1560, but only a break of 1.1545 would indicate that the upward pressures have further eased."