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Jun 04 - 05:00 PM
EUR/USD: A New Retest Of 1.1510 On The Cards This Week - Danske
First appeared on eFXplus on Jun 04 - 03:00 PM

Danske Research discusses EUR/USD outlook and adopts a tactical bearish bias in the near-term.

"EUR/USD in a rather subdued reaction to the otherwise across-the-board strong US job report on Friday, keeping the 1.15s at bay for now.

With the Italian issue set to remain a lingering concern as markets await a political programme from the new government formed on Friday, on the back of the recent data stream confirming the strength of the US economy, we still stress the case for USD strength near term, notably against the euro, and emphasise that our EUR/USD forecasts are under review.

A new test of last week’s low of 1.1510 could be on the cards for this week," Danske argues. 

Source:
Danske Research/Market Commentary

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