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Expect EUR/USD Faces Downside Risks

Forex News Expect stream of eurozone confidence surveys due in coming days to add to downside EUR risks, BNP Paribas FX strategists say. Initial support for EUR/USD likely at 1.5615 with focus returning to range bottom of 1.5300-1.5285 medium-term. Also driven down by firmer USD, supported by hawkish comments from Fed. Notes medium-term portfolio and longer-term flows turning EUR/USD negative. Pair has also broken below key 1.5825 trendline support suggesting more sustained pullback; last quoted at 1.5792.



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