EUR/USD (Maybank) : The Euro could continue to fall on the Forex if the rebound remains content




Maybank believes that EUR/USD could continue to fall on the Forex if it holds up under the 1.1670.

«A conflict that could last in Spain and an ECB doviqh with a QE without deadline should weigh on EUR/USD.

With the normalisation of monetary already built-in, EUR/USD could be short of catalysts for upside pressures in a context of uncertainty in European policy and positive factors for the Dollar (of potential progress in tax reform and the Fed more hawkish).

On the plan of the technical analysis, the momentum downtrend remains intact on the charts daily and weekly. The figure WAS seems to be in training. Price developments in the 1.1670 could suggest a more significant decline towards 1.1420. «



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