#EURUSD @ 1.08523 likely to trade in 1.12-1.15 range ahead – Citigroup
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FX Strategists at Citigroup expect the EUR/USD pair to be trading in a 1.12-1.15 range, laying out the reasoning behind their bullish outlook.
“China reopen coinciding with US inflation peaking and lower Natural gas price.”
“Represents material shift in market narrative, opening a new FX regime.”
“Risk to view is renewed equity weakness that would support US Dollar. “
“Technicals favor EUR/USD gains toward major Fib 1.0938.”
“However, dealers beware option-related headwinds thereafter.”
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