EUR/USD: In 1.1780-1.920 Range For Now; What's Next - SocGen


Societe Generale Cross Asset Strategy Research discusses EUR/USD outlook this week, noticing that CFTC positioning are still very long EUR, while relative real yields are still very bearish for the EUR. 
Meanwhile, SocGen Tech points that only a break below 1.1805/1.1788 would imply a possible further correction. 
"A Eurogroup meeting and services PMIs tomorrow aren’t likely to change the underlying story for the euro.So for now, 1.17801.1920 it is.... and despite the unhelpful yield and positioning data, still, fancy a fresh break of 1.20 this month," SocGen argues.

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