EUR/USD: Upside capped – ANZ

Analysts at ANZ Bank maintain a mildly bearish bias both weekly and monthly on the EUR/USD pair.

Key quotes

“Given the euro area’s high beta to global trade, we expect more global uncertainty around the virus to keep any upside capped.” 

“Politically, the European Union is hamstrung, further restricting the regions ability to appropriately respond to the current crisis.”    

“Spot: 1.09 ANZ Fair value: 1.07”