Bank of America Global Research highlights a technical setup for EUR/USD to retest parity over the medium-term.
“While the DXY is on watch for a double bottom, such confirmation would support euro retesting parity
Of the six times euro was below 1.15 and formed a bottom, euro retested the lows at least once (see blue circles in chart below). In this cycle it has not done this yet. Will history repeat?,” BofA adds.
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