EUR/USD to sink towards 1.13 on a break below 1.15 – OCBC

EUR/USD marked a fresh low at 1.1529 but saw a retracement back above 1.1550. Nonetheless, the pair failed to capitalize on the modest USD weakness and ended up closing the day flat near 1.1550. Economists at OCBC Bank expect the euro to remain under pressure and test the 1.15 level.

See – EUR/USD: Support at 1.15 is under pressure, scope for a slump to 1.12 – Westpac

EUR/USD points to the downside

“A number of indicators – riskies, market positioning etc – still point towards downside for the pair.”

“1.1500 is the main target for now, while any further breach will open up a much deeper decline towards 1.1300.”