The research team at UOB Group indicated the next relevant support is located in the mid-106.00s. Key Quotes “The next significant support for USD is much further down at 106.50”. “In view of the rapid and extended sharp drop recently, we feel that the odds for a move to 106.50 are not high”. “That said, the outlook for USD is still bearish as long as the stop-loss at 109.60 is intact (adjusted from 110.10)”. For more information, read our latest forex news.