EUR/USD: Dips To Remain Shallow & Likely Limited To 1.1660 - Danske

Danske Bank FX Strategy Research maintains the view that any dips in EUR/USD should be shallow and short-lived as fundamentals still provide support and as notably a reversal in debt flows is a key source of upside risks for the cross.
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"We see EUR/USD around current levels on a 1-3M horizon but stress that risks are on the downside in the very near term with a key risk being the appointment of a more hawkish Fed Chair.
That said, we do not think EUR/USD has the potential to drop much further with 1.1660 (17 August low) a key support level," Danske argues.