FXStreet (Edinburgh) - The research team at UOB Group expects no follow through from the recent and sharp pullback. Key Quotes “While the rapid and sharp drop last Friday was unexpected, we are not convinced that the current movement is the start of a sustained down-move in EUR”. “However, the undertone is clearly weak but only a daily closing below 1.0775/80 would indicate the start of a bearish phase”. “Even then, the downside potential is likely limited to a retest of last month’s low near 1.0710”. For more information, read our latest forex news.