SocGen on EUR/USD
Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook and thinks that the pair seems to be preparing for another stab higher above 1.20 if the near-term support around 1.18 holds.
"If EUR/USD 1.18 holds, that paid will still be giving a good impression of being in a rising channel that is going to re-test 1.21 in due course...
After a surprisingly fast rally in H1, Euro bulls are getting used to watching paint dry instead, but patience should still be rewarded," SocGen argues.
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