EUR/USD seen around 1.1700 in the near term – Danske Bank

Pablo Piovano FXStreet

Senior Analyst at Danske Bank Morten Helt believes the pair could reach the 1.1700 area in the short-term horizon.

Key Quotes

“USD has clearly recoupled with the US 10Y yield in recent weeks and yesterday was no exception as another break of the 3% level caused USD crosses to be bid”.

“While US yields are on the rise from cyclical and fiscal factors and term premia repricing alike, we note that EUR/USD long positioning is now much lighter than just a few weeks back, making another dip lower in EUR/USD more challenging. We still see the cross headed for the 1.17s near term”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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