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FXstreet.com (Barcelona) - The single currency remains locked in the 1.2280/2300 range on Monday, as lack of data/results and market-movers would leave the EUR exposed to rumours and unexpected events from the euro zone.

After last week's recommendation of going long on the EUR/USD, the research team of the Danske Bank is now looking to sell the cross.
In the same direction, Axel Rudolph, strategist at Commerzbank, comments that the cross has resumed its downside after last week's small "a-b-c" correction. "We therefore expect the current decline to take the currency pair to below the 1.2042 July low and the psychological 1.2000", condition sine-qua-non being to trade below 1.2444
Analysts at Westpac suggest that "weak Eurozone Q2 GDP is a potential hiccup but as ECB's Draghi twists arms behind the scenes, risks of a range break are still skewed higher, towards 1.2450-1.2500".

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