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KBC Bank analysts point out that the EUR/USD pair has failed the test of 1.1270 area and they are looking for some more strong signs of bottoming process.

Key Quotes

“A sustained euro rebound probably needs some of global (trade) & EMU political event risks to be solved and more comforting EMU eco data. This condition isn’t met yet.”

“We look out for more convincing signs of a bottoming process. EURUSD 1.1216 (Nov low) low remains next high profile support.”