BoA: forecasts for FX majors
Here are some short-term observations from Bank of America Merrill Lynch about FX majors:
- EUR/USD will top in the $1.3290/1.3342 area (confirmation is needed in the form of decline below $1.3177) and slide to $1.2752/1.2662;
- USD/JPY will decline to 93.15/90.91;
- USD/CHF will decline to 0.9021/0.8862 before stabilizing and resuming uptrend targeting 0.9974/1.0000 and eventually 1.1328/1.1733 (long term retracement).