Danske Research discusses EUR/USD outlook and adopts a sell-0n-rallies bias.
"Virus fears have led markets to call for rate cuts. Mounting expectations of the Fed in this regard have notably been a common factor across G10 and EM, but is now the time to position for Fed-driven reflation and a EUR/USD rebound? We doubt it," Danske notes.
"We suggest using spikes in EUR/USD to position for new dip in 1.10-1.13 range," Danske adds.