EUR/USD does not rule out a test of 1.1500 – Danske Bank

Jens Sorensen, Senior Analyst at Danske Bank, does not discard a move towards the 1.1500 area.

Key Quotes

“EUR/USD remains under pressure from lingering trade woes, which keeps USD bid and a break of 1.15 clearly cannot be ruled out”.

“However, the Italian budget issue should not weigh much further on EUR near term, positioning is stretched on USD longs (and neutral EUR), and good technical support is seen in EUR/USD around 1.15; this suggests to us that a break of this level should be shallow and short-lived”.