EUR/USD likely to trade in 1.12-1.15 range ahead – Citigroup

FX Strategists at Citigroup expect the EUR/USD pair to be trading in a 1.12-1.15 range, laying out the reasoning behind their bullish outlook.
Key quotes
“China reopen coinciding with US inflation peaking and lower Natural gas price.”
“Represents material shift in market narrative, opening a new FX regime.”
“Risk to view is renewed equity weakness that would support US Dollar. “
“Technicals favor EUR/USD gains toward major Fib 1.0938.”
“However, dealers beware option-related headwinds thereafter.”
Author

Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

















