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About 1.18 is possible in this move. It is 38,2 fibo for the whole down move from 1.39xx do 1.04xx ![]()
It is possible about 16-20 June after rates hike in US. If they hike rates of course.
We have five and a half weeks to FOMC meeting and rates hike. That's a lot of time to go up.
1.3 is an average exchange rate between dollar and euro. Because we have easing policy in Europe 1.2 can be ok level.
Looking at aussie and kiwi weakness against $ today, we may see some down move on eur/usd tommorow.