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3 Apr 2015
Long USD in the big picture - BofA
FXStreet (Bali) - MacNeil Curry, CFA, CMT, Technical Strategist at BofA Merrill Lynch, remains long the USD in the big picture.
Key Quotes
"While we remain big picture US $ bulls, targeting 106.00 in the US $ Index & 124.16/124.59 in $/¥, at this stage it remains too early to say that the correction of the past week is finished."
"The DXY can correct further to 95.72/94.76, while $/¥ can correct to 116.49 before greater signs of a base emerge."
"For now we remain on the sidelines, especially after getting stopped out of our €/ZAR short. US $ Index bulls need a break of 97.97/98.53, while $/¥ bulls need a break of 120.72 to gain control."
Key Quotes
"While we remain big picture US $ bulls, targeting 106.00 in the US $ Index & 124.16/124.59 in $/¥, at this stage it remains too early to say that the correction of the past week is finished."
"The DXY can correct further to 95.72/94.76, while $/¥ can correct to 116.49 before greater signs of a base emerge."
"For now we remain on the sidelines, especially after getting stopped out of our €/ZAR short. US $ Index bulls need a break of 97.97/98.53, while $/¥ bulls need a break of 120.72 to gain control."