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Jul 06 - 12:55 PM

G10: Long GBP/CHF & Long NZD/USD Attractive; Shifting From Neutral To Tactically Bullish EUR/USD - Citi

By eFXdata  —  Jul 06 - 10:45 AM

Citi summarizes some of its current tactical bias in G10.

"We continue to favor RV opportunities and expect the risk & commodity complex to outperform low yielders with dovish central banks, including long GBPCHF and long NOKSEK. We moved from neutral to tactically bullish EURUSD given stretched USD long and EUR short positions, although the rates dynamic remains tricky," Citi nots. 

"CitiFX Technicals previously noted a favorable backdrop in the NZDUSD chart, and moved to go Portfolio: Long NZDUSD. The pair eyes immediate resistance near the 0.7100 region, while support is sighted at the 55w MA and March 2021 low of 0.6934-06943,"Citi adds. 

Source:
Citi Research/Market Commentary

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