KBC Bank: Euro to test 1.1216 November low

The KBC FX analysts expect 1.1216 on EUR/USD to support the currency pair:
 

• “The short-term momentum stays USD supportive and Euro cautious. The EURUSD is testing 1.1270/67 support level. The 1.1216 November low is the next level on the radar. After the recent decline, quite some euro negative news should be discounted.”

• “That said, we see no trigger yet to reverse the USD-positive/euro negative bias. We don’t row against the tide. Positive news on global trade or on the US-EU trade talks (autos) might provide such a trigger.”