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EUR/USD would keep the 1.3330-1.3340 range - Societe Generale

FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, sees the pair rangebound in the near term.

Key Quotes

"The ZEW data were even weaker than expected but the market wasn't interested enough to drive EUR/USD through the low for this move at 1.3333. The retracement since then smacks of too many shorts being disappointed by the lack of breakthrough."

"A 1.3330-1.3430 range probably holds for now, which doesn't alter our longer-term expectation that we will see more downside, but does little to point to excitement today. Euro Area industrial production is expected to post a 0.8% bounce after last month's 1.1% fall."

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