The euro has taken quite a fall as worries about the debt crisis there have grown, and this strategist says there is more to come.
Thinking about titptoeing into the euro now that it has given up so much ground?
Not so fast, says George Davis, chief FX technical analyst at RBC Capital Markets.
"The bottom line here is that the market has lost patience with the European authorities, given the lack of a concrete resolution" to the crisis, Davis told CNBC's Melissa Lee. "That's created a bearish backdrop for the euro and on the flip side, it's been a positive for the U.S. dollar. We think the risks are that that's going to continue."