EUR/USD: Maybank maintains its bias for selling on rallies

Maybank still believes it is best to sell the EUR/USD on rebounds on the forex.

"The bearish momentum remains intact while the stochastic indicator is entering oversold territory.

The weekly momentum and stochastic indicators have a bearish bias.

We maintain a bias to sell upon bullish rallies of the EUR/USD, while political uncertainties in the eurozone and the ECB, which seems to be moving towards a very smooth and gradual normalisation of its policy, may weigh on the euro."