Morgan Stanley: sell EUR/USD
Morgan Stanley added a new short EUR/USD position to its portfolio by selling $10 mln from $1.3310 with a stop at $1.3440, and a target at $1.2800.
In the near term analysts remain bullish on USD against a neutral EUR bias. “In the current environment, we expect EUR will remain strong on the crosses, though it is unlikely to be able to keep pace with USD gains,” strategists say. "Our interest rate strategists believe markets are currently pricing in tapering starting in September”.
Chart. Daily EUR/USD