EUR/USD: A Failed Attempt To Reach 1.20; What's Next? - Nordea

Nordea FX Strategy Research discusses EUR/USD outlook, noticing that the pair is trading lower after a failed attempt to reach 1.20 yesterday.
"The coming days will be all about the new Fed chair and the US tax reform. If Powell as expected signals policy continuity, it won’t be a game-changer for EURUSD, while if the tax bill passes through the Senate budget committee tonight, this will likely prove moderately USD positive.
We still have a negative bias for EUR/USD around these levels – and remember that back in September it was quite visible that the ECB didn’t want EUR/USD to rise above 1.20," Nordea argues.