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Jul 02 - 11:00 AM
EUR/USD: In 1.15-1.1850 Range With Bottom Of Range More Vulnerable Than Top - SocGen
First appeared on eFXplus on Jul 02 - 08:50 AM

Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook and stays sidelined in cash.

EUR/USD jumped from 1.1570 to 1.1640 in a very short time as the preliminary migration deal was announced on Friday. Maybe markets used to German political brinkmanship and accustomed to that ending with Ms Merkel still in situ, will be reluctant to simply reverse the euro's rise straight out of the blocks, but there's nothing here to drive the euro significantly higher.

EUR/USD is in a 1.15-1.1850 range for now and the bottom of that range remains more vulnerable than the top for now," SocGen argues. 

 

 

Source:
Société Générale Research/Market Commentary

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