Firmer EUR/USD But Citi Far From Impressed

Firmer EUR/USD but Citi is far from impressed because it sees the overall dominant trend in the pair as down. "EUR/USD is making lower lows and lower highs on the intraday charts, which strongly suggests the dominant trend is down. The 76.4% retracement against the highs this week is still valid and losses are still expected. Supports at 1.3026 should be tested," say Citi FX technical strategists. "Our traders are wary of getting overly carried away and fear that the short-term market could have gotten a little long," it adds. EUR/USD trades at 1.3157.