FXstreet.com (Córdoba) - The technical picture seems to favor further euro gains near-term, according to the BBH team as a break of 1.2440, August high and 62% retracement level from the July-August drop in EUR/USD (already broken) would target the July 1 high near 1.2680.
"Still, any progress on Greece will do little to change the still-deteriorating fundamental outlook for Spain, and so we think that short-term euro gains will offer better levels to go short euro again for renewed medium-term weakness", they say.
"Still, any progress on Greece will do little to change the still-deteriorating fundamental outlook for Spain, and so we think that short-term euro gains will offer better levels to go short euro again for renewed medium-term weakness", they say.
