EUR/USD: upside scenario is unlikely (KBC)
Analysts at KBC Bank say that EUR/USD has formed a double top by closing below $1.2936 yesterday. The specialists target levels close to/slightly below the $1.2700. In their view, this negative scenario will be negated only if the pair sustainably trades above the 1.3306/1.3319 area (previous low/reaction high). However, KBC thinks that this is unlikely to happen in the near term as this area will be tough to regain.
Chart. Daily EUR/USD