EUR/USD, EUR/JPY, EUR/GBP: 'Sensible' Targets To Expect – SocGen

Societe Generale FX Strategy Research argues that going into this week’s ECB meting, it’s too soon to look for much open debate about scaling back the pace of ECB bond-buying.

“The EUR still looks strong relative to yield differentials and may remain stalled in the current range for a while. But that doesn’t alter the longer-term positive outlook,” SocGen adds. 

On the technical front, SocGen’s analysts expect a pause with EUR/USD 1.1043 as support before a push up towards 1.1390, with EUR/JPY levels for the same move at 121.80 and 129.65 (if we break 126).

EUR/USD 1.14 and EUR/JPY 130 are sensible targets, to which we would add 88.5 for EUR/GBP, though in the longer term, we still see EUR/GBP trading up through 0.90 again,” SocGen argues.

Source: Societe Generale Cross Asset Research

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