EUR/USD (Danske Bank) : The Euro is not expected to fall sharply on the Forex

EUR/USD comes in on a key support, according to Danske Bank. The bank maintains a notice bullish on the pair.

«EUR/USD has broken below 1.18 on what seems to be a re-evaluation of political risk after the elections in Germany.

In spite of speculative purchases on EUR/USD have been reduced during recent weeks, the pair remains vulnerable to negative news.

However, we continue to see 1.1740 as a threshold of key support. Indeed, the recent comments from the ECB noted that it is the rate of rise of the Euro, which had alarmed and not by the level of EUR/USD – and at this stage, we expect the ECB to make efforts to weaken the Euro. «

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