After spiking to a high of 7.99 in early March, strategists at ANZ Bank expect EUR/CNH to see successive lows in the remainder of the year. Key quotes “The Eurozone has yet to embrace debt mutualisation, which bodes ill for its fiscally weak members. We see big challenges ahead: rising deflationary pressures, persistently high unemployment and medium term fiscal sustainability. These call for a higher risk premium for EUR.” “We favour turning short in the cross on rallies. Positive forward points work to the favour of sellers, who can lock in 7.95-8.00 in a 3-6M forward transaction.” “For buyers, the first support is 7.60, to be followed by 7.55 and 7.41, last seen 2 years ago.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Four risks threatening the leg higher FX Street 3 years After spiking to a high of 7.99 in early March, strategists at ANZ Bank expect EUR/CNH to see successive lows in the remainder of the year. Key quotes “The Eurozone has yet to embrace debt mutualisation, which bodes ill for its fiscally weak members. We see big challenges ahead: rising deflationary pressures, persistently high unemployment and medium term fiscal sustainability. These call for a higher risk premium for EUR.” “We favour turning short in the cross on rallies. Positive forward points work to the favour of sellers, who can lock in 7.95-8.00 in a 3-6M forward transaction.” “For buyers, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
