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- EUR/USD: Potential for a decline to 1.15s - BofA
EUR/USD: Potential for a decline to 1.15s - BofA
eFXdata reports that Bank of America Global Research discusses EUR/USD technical outlook and flags a scope for testing 1.115s.
"EUR/USD made a second lower low rounding out a top. The euro remains well supported in the 1.17s as the market has bought it there five times steering off a larger decline".
"Price action after the Fed led to a test second lower low in last three weeks. While the bounce in the BBDXY progresses in the coming weeks, we should expect euro to stay within its rising channel (roughly 1.1725-1.2020) and for potential to grow for a decline to the 1.15s," BofA adds.
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