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22 Mar 2016
EUR/USD: Limited retracement likely - SocGen
According to Societe General, graphical level at 1.1460 will be important hurdle for EUR/USD, concluding that the current bullish retracement is likely to be limited.
Key Quotes
"After testing key levels 1.06/1.05 last year, EUR/USD is undergoing broad consolidation. 1.06/1.05 will decide next leg of down cycle."
"Short term though, it revisited February lows (1.08) and has achieved our advocated target (1.1250). It has probed last month highs of 1.1330/80; graphical level at 1.1460 will be important hurdle."
Key Quotes
"After testing key levels 1.06/1.05 last year, EUR/USD is undergoing broad consolidation. 1.06/1.05 will decide next leg of down cycle."
"Short term though, it revisited February lows (1.08) and has achieved our advocated target (1.1250). It has probed last month highs of 1.1330/80; graphical level at 1.1460 will be important hurdle."