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)