EUR/USD to edge lower towards next bearish target at 1.0650 – OCBC

EUR/USD opened with a large bearish gap and dropped toward 1.0800. The next multi-session target may well be at the 2020 low near 1.0650, economists at OCBC bank report.

Short-term implied valuations move further lower towards 1.07

“Should the conflict show no sign of easing this week, further downward extensions in the EUR/USD could bring us towards 1.0650.”

“Our short-term implied valuations move further lower towards 1.0700.”