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FXstreet.com (Barcelona) - EUR is trading around the 1.2270 level as of writing, rebounding from lows in the 1.2260 region, as risk-off trade is swelling among investors. Thin trade was the main characteristic of the markets this week, as lack of data/results left the markets to the mercy of rumours and risk trends.

All three banks are keeping their different outlooks for the EUR/USD: Geoffrey Yu, analyst at UBS, expects the bloc currency to trade at 1.2000 within the next three months, although the very short term stance remains neutral, pointing out support key levels at 1.2252 and 1.2134 while resistance levels are located at 1.2444 and 1.2489
Analysts at Danske Bank have been suggesting to buy the cross. This time they recommend 'longs' at 1.2222 targeting the area at 1.2387
And Karen Jones, expert at Commerzbank, remarks the support line at 1.2214, saying that a breach of this level would expose 1.2042 en route to 1.1876. The backdrop, however, is still bearish while trading below 1.2800

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