JP Morgan likes to add EUR/USD on dips.

"The euro continued to squeeze yesterday, still so many questions as to why the currency trades so well in the face of a picture that appears bleak for Eurozone growth suggests still some pain out there. This is all a range but still feel like there may be something bigger at play here so keeping core longs although reduced a touch given we are at a key pivot point and whilst multiple attempts yesterday never felt convincing on a 1.18 handle," JPM notes.

"ECB commentary quite balanced here suggesting no panic hikes just yet but think given past mistakes were made that's not too bad for the currency. Look to add back again on dips with a stop below the moving average cluster  (1.1670/1.1700)," JPM adds.