#EURUSD @ 1.07251 could spike sharply lower on a break below 1.07 – SocGen
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Kit Juckes, Chief Global FX Strategist at Société Générale, expects the EUR/USD pair to nosedive a move below the 1.07 level.
“EUR/USD could spike sharply lower if we break 1.07 and USD/JPY could spike higher if we break 140.”
“Short EUR/JPY remains an easier trade than trying to guess where the other pairs turn around.”
“As long as the market has concerns about Chinese data and USD/CNH is trundling higher, CAD, AUD and NZD will also remain under pressure, and CAD is the only one I’m even slightly tempted to buy.”
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