Technical analysts at Commerzbank note that the European currency has come to the strong support area that will be able to hold the initial attack of the bears. This support zone is formed by 61.8% Fibonacci retracement at 1.3269, 5-month uptrend line at 1.3253 and the 200-day MA at 1.3133.

Strategists at UniCredit also believe that the pair EUR/USD will struggle to stay above 1.32. However, the bank still supposes that it’s necessary to sell euro if it gets above 1.34 on a positive vote for Portugal's austerity plan.

Citi specialists say that EUR/USD doesn’t slump due to the respectively good demand, but underline that investors shouldn’t forget about serious downside risks for the European currency.

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