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Economists at Danske Bank consider the EUR/USD pair is capped.

Key quotes

“We see EUR/USD as essentially capped within its recent range, but with a bias towards a small downside still as we doubt optimism will be able to form around EUR for now.”

“We target 1.09 in 1-3M and 1.07 in 6-12M.”

“The hesitant handling of the coronavirus in Europe has in our view exposed the lack of institutional willpower to keep the region together; this in our view caps EUR upside.”