Following the EUR/USD pair’s collapse to a new three-month low, Bank of America (BofA) analysts confirmed their gloomy outlook for the currency major.
The latest research from the investment bank highlights happy US data and a hawkish Fed to represent the greenback’s solid performance this year before indicating a strong consensus against the US dollar (USD).
According to the report, they have been the most bearish on EUR/USD and the only one with a projection as low as 1.15, even today, citing the daily chart on Bloomberg terminal.
It’s worth noting that the recent risk-off sentiment has put a safe-haven bid beneath the US dollar, bringing the Antipodeans down with it. Due to its risk-safety appeal, gold, on the other hand, appears to be less influenced.
Read this article: EUR/USD Price Analysis: On the approach to two-month-old support, it defends 1.1800./n
