The picture for the USD in the next couple of sessions remains slightly heavy. Prefer to be long EUR-USD to reflect the USD negative stance in the immediate horizon, as ECB action supports sentiment in Europe, per OCBC Bank sources.
Key quotes
“The loosening of the ECB’s bond buying limits should support sentiment in Europe.”
“The EUR continued to search higher, and the trend may continue for the next few sessions.”
“Prefer to buy on dips, targeting the 200-day MA (1.1081). Interim support at 1.1000.”
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