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EUR/USD: 1.15 test likely if range breaks this month - SocGen

eFXdata reports that Societe Generale Research flags a scope for EUR/USD break lower during this month.

"Recovery Fund concerns can hold the euro down, and the prospect of easier fiscal policy in the US doesn’t suggest that we’ll see any further narrowing in Bund/Treasury yields, now or for the foreseeable future. With a bullish consensus, it’s disturbingly easy to name a series of reasons for the euro to be weaker. On a positive note, even in Spain the second wave of the pandemic continues to be much less economically damaging than the first. But still, if we break outside a EUR/USD 1.16-1.19 range in October, suspect it will be to test 1.15," SocGen adds. 

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