EUR’s mini rebound runs out of steam. The EUR/USD pair remains prone to more losses, economists at Scotiabank report.
Losses should accelerate below 1.0650
“Near-term risks still appear to be tilted more towards a push to the 1.05/1.06 range than a break back above 1.08.”
“Intraday signals suggest a minor peak/reversal formed around the daily high in the low 1.07s and broader technical patterns remain bearish.”
“Minor EUR gains remain a technical sell; losses should accelerate below 1.0650.”
See: EUR/USD to trade well within the confines of a 1.0650-1.0750 range – ING
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