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Mar 21 - 05:55 AM

EUR/USD - REFILE-BUZZ-The Door For A Deeper EUR/USD Drop Is Wide Open

By Jeremy Boulton  —  Mar 21 - 03:40 AM

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  • EUR/USD has consolidated a steep decline reaching 1.1137 EBS from 1.0806

  • 1.1144 is the target for minimum tech correction of Oct-Mar fall

  • EUR/USD rebounded after stretching deep into oversold territory

  • There is now scope for a renewed decline, base 20-day BB is 1.0799

  • Despite reducing longs traders are still betting on a rise IMM/FX

  • After EUR/CHF bounce, support emanating from SNB intervention will lessen

  • SNB rebalancing will weigh on EUR/USD's recovery

  • Volatility falling weighing funding ccies like EUR and U.S. rates rising

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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