SEB Research flags a bullish technical setup for EUR/USD.,

"EUR/USD technical momentum is approaching a long signal, while positioning and mean reversion are both neutral – leaving room for upside pressure. Seasonality over a one-month horizon is also favorable for the pair, and broad USD momentum is turning negative," SBE notes.

"With that said, the technical setup points toward a stronger EUR/USD over the coming 2- 3 weeks," SEB adds.