EUR/USD: We do not see a bottom yet but remain on watch for one – BofA

Bank of America Global Research discusses EUR/USD technical outlook and sees a scope for a bottom pattern in the making.

“We continue to view the 1.08s as a place where the euro has a
chance of bottoming or staging a larger bounce than most may
anticipate. We do not see a bottom yet and remain on watch for one,” BofA notes.

“Since 1999 in April the euro had little seasonal tendency, it was
weaker in May 61% of the time and stronger in June 61% of the time,”
BofA adds.

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