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Dec 07 - 06:55 PM

EUR/USD: Technical: Still Room To Trend Lower In 1H22; Sell Rallies Below 1.15 - BofA

By eFXdata  —  Dec 07 - 03:00 PM

Bank of America Global Research discusses EUR/USD technical outlook and adopts a sell-on-rallies bias going into next year.

"The earliest technical juncture for a bottom is in the 1.12s but we do not see enough evidence to confidently lead with that call. Partly because there is still room for euro to trend to the bottom of its triangle pattern in the 1.10-1.08 area in 1H22," BofA notes.

"This, we think, may be the place euro reveals a bottom (TBD). Sell rallies bias remains," BofA adds. 

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Source:
BofA Global Research

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