EUR/USD still a sell on strength - Societe Generale

By FXstreet.com | August 18, 2014 AAA

FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, remains a seller on EUR rallies.



Key Quotes



"There is no new geo-political news over the weekend, and although hopes of a resolution to the Ukraine conflict are faint, we're starting the week with a (timid) risk bounce, and a dollar-negative bias. EUR/USD may test the top of the current mini-range (1.3330-1.3430) but is a sell on rallies; USD/JPY is stuck fast in its 101-103 range but we remain long; GBP/USD needs to break 1.6660 to re-invigorate the downtrend (maybe the CPI data tomorrow will help). Strong employment data have not had much impact on CAD but support a view that selling AUD/USD in a 0.93-0.94 range is a better strategic trade than buying USD/CAD. NOK/SEK continues to test 1.12."



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