Analyst on cheap looking euro - sees EUR/USD toward 1.2 in time
A snippet via Credit Agricole on the EUR, says the currency looks cheap
- Forecasting EUR/USD toward 1.20 over the medium to longer term.
While on the EUR,
- Intraday dips are indicated to be likely to hold in the 1.1120/1.1085 vicinity.
- Longer term critical resistance … a break... will target 1.1520/70
1 to 3 week outlook
- ... maintain our positive outlook
- a move above 1.1200 would not be surprising but 1.1250 is a much stronger resistance and may not yield as easily
- On the downside, only a break of 1.1070 … would indicate that the current positive phase in EUR t... has run its course