“While above 1.0660 the immediate outlook remains bid. Minor support lies at 1.0660 and this guards the 1.0520/1.0457 recent lows.” Commerzbank.
"We still believe the gains in the EUR/USD are corrective, but purely technically alone this range breakout can allow for some upside extension. 1.1275-1.1500 is a very strong technical resistance zone to be mindful of in that regard," says a morning forecast note from Lloyds Bank.
“Therefore, they will wait longer before tightening policy. This is dollar negative. Of course, on the side of the euro, QE will keep rates under downward pressure,” says Piet Lammens at KBC Markets.
“So, this brings the EUR/USD short term more in balance. Some dollar bulls may still have to reposition and therefore EUR/USD may revisit the 1.1098 area. We see the 1.0462-to 1.1098 range as appropriate short term,” says Lammens.
