Barclays Research maintains a bearish bias on EUR/USD in the near-term.
"The adverse ToT shock along with the global tightening in financial conditions remain a downward influence on the euro. In this context, further hikes by the ECB can only offer marginal support to the currency. Instead, a Fed in hawkish overdrive continues to supercharge the dollar," Barclays notes.
"More structurally, subpar ex-US growth and timid China stimulus imply the dollar down cycle is quarters away. ECB speakers this week include President Lagarde and Chief Economist Lane," Barclays adds.