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EUR/USD: Limited retracement likely - SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    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."
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