Banks are short on EUR/USD
Analysts at Citigroup point out that although EUR/USD rose above the double top neckline ($1.3673) last week, it failed to push above the 55- and 200-day moving averages and retreated down to the $1.3600 area. Citi notes that the pair has once again closed the week below $1.3673. That’s why the bank expects euro to slide to $1.3380.
BNPP is short on EUR/USD from $1.3620 targeting $1.3200 and with stop at $1.3820 as the rising US yields will support the greenback. Commerzbank maintains EUR/USD short from $1.3650 targeting $1.3505 with stop at $1.3685.
Chart. Daily EUR/USD