Eur/usd Surfing on Oversold Territory

Eur/usd Surfing on Oversold Territory




Quotes from Societe Generale Cross Asset Research:
-IMM data released on Friday revealed that net short EUR positions had hit a new record the week of 29 May.
-Mounting fear surrounding Spain's banking sector,what is expected to be a very close call at the Greek polls and fragile eurozone data are fuelling poor EUR sentiment.
-Moreover, referring to positioning as measured by technical considerations (namely 14D RSI), the EUR/USD is surfing on oversold territory.

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