EUR/USD: In Range Until Break Higher ‘Slowly, Step By Step’ – SocGen

EUR/USD is sticking to its range and not going anywhere fast. What’s next?

Here is their view, courtesy of eFXdata:

Societe Generale Research discusses EUR/USD outlook and maintains a neutral view with an upside bias for the rest of the year. 

“Clearly, the next big event will come in the dissection of the FOMC statement.

EUR/USD is likely to find 1.18 are hard nut to crack, but the bottom of the range has moved up to 1.15 and absent negative shocks from the Italian budget, or from the economic data, we still think we’re in this range until we break higher (slowly, step by step),” SocGen argues.

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