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Forex Flash: EUR/USD next big target at 1.1875 - BBH

By FXstreet.com,  July 12, 2012, 10:04:00 AM EDT

FXstreet.com (Córdoba) - The US dollar is stronger against major and EM currencies after the FOMC failed to deliver any clues about further easing, according to the BBH team. "Better than expected euro zone May IP offered little support for the euro, which is down for the third day against the greenback", they say. "The fact that the euro is shrugging off better than expected economic news reinforces the bearish sentiment towards the single currency".

"The June 2010 low near $1.1875 is our next big target, but it is possible the euro finds support near $1.2000. The euro is little changed against sterling after recently reaching a new low since 2008", they add.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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