EUR/USD: Maybank maintains its bearish bias of euro ahead of upcoming political risks

According to Maybank, the bias remains bearish on the forex for the euro against the USD and JPY in light of the political risks that are on the horizon:

"The EUR was down (against the USD). The pair is still well in the 1.045-1.64 range. The momentum indicators lack directional markers. The resistance remains at 1.0620/1.0670. The support level is at 1.0470/1.0520. Given the wave of political risks looming in Europe, we continue to warn against the complacency of the market and favour selling on the rallies of the euro against the USD and JPY.