A really quick snippet via JP Morgan on the euro, short term levels ahead:
Resistance
- 1.1452
- 1.1490/00
Support
- 1.1370/80
- 1320/30
Re the near term fundamentals
- optimism around the potential for an agreement on the terms of a relief fund this weekend
- an agreement this weekend would be an optimal outcome, although in the event that this is put off for another month we would regard any Sunday night/Monday AM dip as a buying opportunity
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ps. JPM are referring to the meeting of EU leaders on Friday
- a face-to-face summit
- for discussions on a €750bn post-Covid stimulus package
- and also on a seven-year budget worth another €1.07 tn
- meeting to continue on Saturday, may go longer