Analysts at Bank of America claim that the single currency may fall to more than 2-year minimum versus the greenback.
The specialists note that if euro doesn’t manage to hold at the current levels and resume decline closing the day below $1.3026, this would mean another wave of the downtrend within which EUR/USD has been trading since May 2011.
In such case the pair will move down to $1.2644/$1.2510. Euro’s moving average convergence/divergence, or MACD, was at 0.0036, below the signal line of 0.0045. A reading below the signal line indicates the euro may decline.
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