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Analysts at Goldman Sachs argue that the risks remain to the downside for the EUR/USD pair, citing three why the EUR reversed its post-FOMC gains.  

Key Quotes:

“Brexit-related uncertainty has kicked up again “¦. weighs on the Euro to some degree.

Even though market volatility may curtail risk sentiment in the short run, EUR-funded carry trades remain attractive to many investors.

March flash PMIs trampled on the “green shoots” of growth that had started to show in some of the Q1 data.

What could it take for EUR/USD to break above its recent trading range?

A re-rating in Euro area growth prospects “¦ it looks like that has been delayed yet again.”