A snippet from a Société Générale client note on the euro overnight:
- EUR/USD has extended its uptrend after breaking above September high (1.2013).
- It is in the vicinity to an interim projection of 1.2330.
Astute observers will note it turned down shy of 1.2330, dropping by about 70 points (its coming off those lows in Asia now in lacklustre trade). And, finally, SG on what to expect ahead:
- The up move is likely to extend towards 2018 peak of 1.2558/1.26
