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Apr 26 - 06:55 PM

EUR/USD: New Lows For EUR/USD; 1.05 Is Next - Danske

By eFXdata  —  Apr 26 - 03:00 PM

Danske Research maintains a bearish bias on EUR/USD for a move towards 1.05 in the near-term.

"We still see a case for new lows in EUR/USD on overvalued EUR and disappointment in China and global growth. We forecast 1.05 and see a broadening of USD strength as a key downside risk to this view - this has been playing out over the recent weeks," Danske notes.

"Also note that spikes in spot are being sold faster than, say, three months ago. The latter is indicative that spot is still overvalued and positioning has further to go," Danske adds. 

Source:
Danske Research/Market Commentary

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