In view of the research team at UOB Group, the risks remain tilted towards further downside in the pair. Key Quotes "The extreme volatile movement is not showing signs of abating. However, the pressure is still clearly on the downside but at this stage, the odds for a break below the 110.98 low seen yesterday are rather slim. Strong resistance is at 113.30”. “The ease of which the 112.00 target was exceeded has shifted the focus to the next key level of 110.00. Stop-loss remains at 114.60 for now but this level is expected to move lower quickly in the next few days For more information, read our latest forex news.