14.10.2016 - The euro resumed after the recent correction

Price of euro has resumed fall after rebounded upward after reaching the level of 1.0985. In case of breaking through the upper boundary of the descending channel and the level of 1.1050, we expect a further increase up to 1.1140 and 1.1200. A more likely scenario, according to our estimates will be overcoming the support level at 1.0985, will be a stimulus for further reduction of quotations up to 1.0850 and 1.0700. Our medium-term outlook remains negative.

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