06.07.2016 - The euro may continue to fall after the rebound

Price of euro showed a sharp drop in during which broke through the lower boundary of local ascending channel and as the result has reached the support level at 1.1050. Currently quotations are rising due to the rebound and may return to the channel's lower boundary, which has left earlier. According to our forecasts, in the near future drop in prices will continue with nearest objectives at 1.985 and 1.0850, after which the price will drop to 1.0700 and 1.0550. Our medium-term outlook remains negative.

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