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Nov 19 - 10:55 AM

EUR/USD: Looking For 1.1920 To Be Formidable In Containing Rallies - TD

By eFXdata  —  Nov 19 - 10:00 AM

TD Research maintains a tactical bearish bias on EUR/USD, expressing that via holding a short exposure as its TotW targeting a move towards 1.17.

"EURUSD has coiled into the range highs. We look for 1.1920 to be formidable in containing rallies as it does mark the post-election high. More notably however, DM macro is slowing as Covid infections surge and mitigation measures are enforced," TD notes. 

"We think EURUSD needs a fresh catalyst to make new highs and we just do not see that anytime soon. We also think cable will require a fresh move lower in the broad USD to extend above this month's highs," TD adds. 

TD Bank Research/Market Commentary


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