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EUR/USD could struggle near 1.1880 – Danske Bank

Chief Analyst at Danske Bank Allan von Mehren seen a significant resistance in the 1.1880 area.

Key Quotes

EUR/USD jumped above 1.18 again last night after the dovish FOMC minutes, but we still think the 1.1880 support level will hold near term and do not expect ECB minutes today to lead to a break:”.

“Did the Governing Council discuss putting a definite end date on QE at the October meeting? If yes, then that could lift the euro but we rather think not, which – alongside of continued political uncertainty in Germany – should put EUR/USD under pressure again near term”.

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