FXStreet (Córdoba) - The ">EUR/USD dropped further during the American session and bottomed at 1.3351, reaching the lowest price since last Thursday. Afterwards bounced slightly from the lows and currently trades at 1.3360/65, down 0.27% for the day.



“Support comes in at 1.3330/35 amid reports of barrier options at 1.3325 and of course, 1.3300”, says Jamie Coleman, from FXBeat.



EUR/USD bearish outlook but...



“We are a little conflicted still on the near-term outlook for EUR/USD. We are loathe to ignore the signs of demand for EUR on dips and cannot exclude the risk of a short-term squeeze higher through the High 1.34s/low 1.35s” wrote FX strategists from TD Securities.



The broader trend remains bearish according to the TD Securities Team but not without risks. “ We still favour fading short-term EUR/USD gains and continue to believe that medium-term trends are geared towards sub-1.30 levels in weeks ahead. The risk is that those short-term rallies extend through to the low 1.35s, however.”



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    US Dollar Breakout Velocity Rests with Fed’s Liftoff Outlook after NFPs

  2. Forex News

    Metals & Petroleum products: CFTC Commitment of Traders Report - TDS

  3. Forex News

    EUR/USD survived the drop, US Payrolls on sight

  4. Forex News

    FX space for May break down - Scotiabank

  5. Forex News

    EUR/USD Retail FX Crowd Remains Net-Short Ahead of ECB June Meeting

Trading Center