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Jan 14 - 12:55 PM

EUR: Crosses (EUR/CAD, EUR/NZD, EUR/AUD) Vulnerable For Further Downside - Citi

By eFXdata  —  Jan 14 - 10:45 AM

Citi flags a scope for further downside moves in EUR crosses.

"EUR crosses remain vulnerable and flow now supports this. We emphasize the risk to EUR crosses once again and highlight that we are now seeing EURCAD selling following the moves in EURAUD, EURNZD and the break of significant downside support levels," Citi notes. 

"We still believe in the ‘reflation’ trade but remain cautious about running too much outright USD risk," Citi adds. 

Source:
Citi Research/Market Commentary

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