EUR/USD: Dips A Strategic Buying Opportunity But Bulls Likely On The Sideline N-Term – Credit Agricole

EUR/USD is clinging to a range around 1.23. What’s next?

Here is their view, courtesy of eFXdata:

Credit Agricole CIB Research discusses EUR/USD outlook and maintains a structural bullish bias in the medium to long-term, seeing further dips as a strategic buying opportunity. 

“We are EUR-bullish in the long term, on the back of an accelerating economic recovery, portfolio inflows to the Eurozone and the expected ECB QE taper. In the near term, the EUR bulls may remain on the sidelines, awaiting more clarity on the ECB policy outlook and the political situation in Italy since the 4 March election.

From a broader angle we stay of the view that the USD should be sold against the likes of the EUR and GBP,” CACIB advises.

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