Forex Flash: EUR/USD heading for 1.15 in the near term – TD Securities

FXstreet.com (Barcelona) - TD Securities analysts expect a fragile Euro as uncertainty regarding Spain's financing and rising chances of a Greek exit will keep the currency under pressure, but Tuesday's Markit flash PMI could raise speculation about more ECB easing against the economic slowdown.

"Technically, EURUSD is heading for 1.15 in the near term", wrote TD securities analysts. "This has been our short-term technical base case since the break below the base of the June consolidation (bear flag) which points to a speedy replication of May's 1.32/1.22 move", they added, pointing to strong resistance at 1.2150/75.