EUR/USD fell to a low of 1.1215, the lowest since June 2017. Can it recover? It also depends on Brexit, that has a significant impact beyond the pound.
Here is their view, courtesy of eFXdata:
NAB Research discusses EUR/USD outlook and notes that that EUR/USD and GBP/USD have been moving in tandem as of late.
“The TWI has been largely stable principally due to moves in CNY and GBP. With a Brexit deal, uncertain positive developments are required in order for EUR/USD to rise back into a 1.15-1.1875 range – GBP and EUR tend to move with a delta of 0.3-0.5 historically
Further, into 2019 the outlook will depend on some reversal of USD strength, now looking more likely following the mid-terms, seen hampering Trump’s agenda and possibly reducing trade tensions with key allies such as Europe (and Japan),” NAB argues.
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