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EUR/USD attempting a rebound to 1.3220

FXstreet.com (Edinburgh) -After dropping to 5-week lows around 1.3170, the EUR/USD picked up pace and regained the 1.3200 handle, advancing to the current 1.3210/15 region.

EUR/USD outlook turning bearish

Today’s deep pullback might prompt investors to re-assess the current stance of the pair, in light of the ongoing Syria-induced risk aversion and the likeliness of the Fed announcing its QE tapering in the upcoming meeting, both events being USD-supportive. Camilla Sutton, Chief Strategist at Scotiabank, argues that the short-term technical are now bearish, adding, “the MACD and DMI firmly in sell territory, the RSI having dropped below 50 and yesterday’s violent …read more