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May 19 - 09:55 AM

EUR/USD: Monthly Chart: Where Is Support For Euro? - BofA

By eFXdata  —  May 19 - 09:14 AM

Bank of America Global Research discusses EUR/USD technical outlook on the monthly chart.

"With euro breaking 1.08 and testing the 2017 lows of 1.0341, we have an updated roadmap below for big picture supports. It begins with the 1.0341 low from the Jan 2017 low. The next point is the bottom of the channel a touch below parity," BofA notes. 

"Thereafter the Fibonacci extension measures are presented. If this wave is more than 100% of the prior, then .9697 is the next level after parity," BofA adds. 

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Source:
BofA Global Research

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