EUR/USD: some correction’s possible (SEB)
Technical analysts at SEB bank point out that EUR/USD keeps falling, but as the pair closed yesterday above $1.2850s, it seems that there are “clusters of buyers”. In their view, there may be a short/shallow correction/consolidation in the coming sessions before the downtrend resumes.
According to SEB, the caps for the correction up are at $1.2935/43, $1.3019/33 and $1.3195. Euro needs to get above there to start seeing some upside potential again.
Chart. H4 EUR/USD