EUR/USD: Downside beyond 1.0800 – OCBC

Short EUR/USD may be the best way to express the supported USD, in the opinion of Terence Wu, an FX strategist at OCBC Bank.

Key quotes

“We expect any bounce towards 1.0900 to be rejected for further downside beyond 1.0800.” 

“Note however, that short term implied valuations have been relatively resilient despite the downswing in spot.”