The cross has consolidated in the recent sessions but the short term trend remains bullish above a support at 1,0480 (short term bullish channel) and a break above last week’s high at 1,0615 would prolong this trend toward 1,0667, last step before the major resistance at 1,0785 (2012 top). A break below 1,0480 would invalidate this scenario in the short term. Buy – Stoploss @ 1,0510 – Target @ 1,0666.
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Natixis