EUR/USD: Downside risks remain – OCBC

In the early European morning, the EUR/USD is consolidating losses below 1.0700. The currency pair is feeling the gravitational pull of a broadly stronger US Dollar and a risk-off marker profile. Investors are still concerned about the US-China trade dispute and the impending US CPI.

EUR/USD lost more than 100 pips last week and is still consolidating below 1.0700 on Monday. OCBC Bank economists note that the pair is still under bearish pressure.

1.0490 is the level of support.

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