EUR/USD: near-term test of 1.3380 expected - Scotiabank

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - Camilla Sutton, analyst at Scotiabank noted that there is ongoing downside pressure on EUR and they expect EUR/USD to test 1.3380 in the near term.

Key Quotes



“EUR is weak, flat since yesterday’s close, but having broken below its recent range and the February lows”.



“Downside pressure has also built on EUR crosses, with EUR/JPY, EUR/GBP, EUR/CAD and EUR/AUD all having dropped to fresh lows in the last 24 hours”.



“Building on yesterday’s comment, we see this build as suggesting there is ongoing downside pressure on EUR, which is likely to pull it lower still”.



“News flow has been quiet, with no fundamental releases except for mixed second tier data from France. We look for a near-term test of 1.3380”.



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