EUR/USD: the euro should remain oriented to the downside (OCBC)

OCBC believes that EUR/USD risks remain to the downside in the short term.

"Short-term EUR/USD valuation remains weak, but it is trying to stabilise itself.

In the meantime, the 200-day moving average at 1.2019 is expected to offer resistance, with the risks shifting towards 1.1880.

Note that the net positioning on the EUR became short last week, for the first time in 2018."