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EUR/USD finds support at 1.3350

FXStreet (Córdoba) - The ">EUR/USD dropped further during the American session and bottomed at 1.3351, reaching the lowest price since last Thursday. Afterwards bounced slightly from the lows and currently trades at 1.3360/65, down 0.27% for the day.

“Support comes in at 1.3330/35 amid reports of barrier options at 1.3325 and of course, 1.3300”, says Jamie Coleman, from FXBeat.

EUR/USD bearish outlook but...

“We are a little conflicted still on the near-term outlook for EUR/USD. We are loathe to ignore the signs of demand for EUR on dips and cannot exclude the risk of a short-term squeeze higher through the High 1.34s/low 1.35s” wrote FX strategists from TD Securities.

The broader trend remains bearish according to the TD Securities Team but not without risks. “ We still favour fading short-term EUR/USD gains and continue to believe that medium-term trends are geared towards sub-1.30 levels in weeks ahead. The risk is that those short-term rallies extend through to the low 1.35s, however.”

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