FXStreet (Edinburgh) – Strategists at TD Securities believe the pair could extend its decline further.
Key Quotes
“The failure to progress on good news left the door open for a test towards the lower end of the EUR’s recent consolidation range, in fact”.
“From a short-term perspective, we think weakness in EURUSD overnight is quite instructive”.
“Investors have lightened up positioning considerably in EURUSD in recent weeks and today’s sell-off suggests a easy willingness to add or build short positions relative to the EUR’s struggle to attract additional support above 1.14”.
(Market News Provided by FXstreet)