Another warning of EUR/USD moving to parity – technical analysis

Bank of America note on the euro, says EUR/USD parity is a technical risk:

  • says the pair is coiling into a tight range
  • a bearish continuation pattern,
  • should sell into rallies
  • BoA prefers to sell into 1.09s, stop loss 1.1165/1.12 and downside targeting measured move levels: 1.0433, 1.0330, 1.0230 and possibly 0.9903
  • Sees parity as a risk into the end of June

(BoA note late last week)