Scotiabank believes that EUR/USD could continue to fall on the Forex in the short term.
«EUR/USD has broken under a support of a short-term key in the lower part of the 1.18 and seems to be able to retreat again, the-least in the short term.
The technical trends seem weaken to EUR/USD below the 1.1825 following two tests of the zone of the 1.2070/90 in the last month.
The technical risks are now moving towards a fall of EUR/USD in the direction of the high part of the 1.15 during the next 4-6 weeks. «