EUR/USD looking for a rebound - TDS

FXStreet (Barcelona) - Analysts at TD Securities explained that the scale of the EUR/USD slide in the past few months and market positioning suggest that the risk of a short-term consolidation or correction is increasing.

Key Quotes:

"An informal measure combing market positioning (IMM data) and the rate of change in EUR/USD spot suggests EURUSD is about as oversold now as in 2012."

"A consolidation or corrective bounce in the EUR in the next few weeks (which might last 1-2 months) would not surprise; but neither would such a rebound alter our longer-term bearishness on the EUR."