Maybank said to prefer the sale of EUR/USD on rallies.
«The momentum is bearish on the charts daily and weekly rest intact.
We anticipate a continued decline to 1.1420. The resistors are to 1.1680 and 1.1750.
Our bias is to sell rallies. The risk would be a weakening of the USD following the Fed dovish or a deception of the tax reform.
With the normalization of the ECB now passed, drivers external to US (the choice of the Chairman of the Fed, tax reform, are likely to take control in the short term. «