Friday started in the sentiment spurred by previous session on renewed rate-hike bets on mid-year liftoff in the US. Supported by Atlanta Fed representative Dennis Lockhart, Mexico Central Bank’s governor expectations of further peso depreciation due to greenback and even neverending European problems with liquidity (albeit constantly disparaged by Germany’s Schaeuble), we can expect the long-term trend on EUR/USD to show its strength now again (after short corrections). The only disrupting element could come from the Q1 news next month, as durable goods data disappointed the market, but it should not stop the overall trend, only support couple of correction. Now we see supports for short take profits at $1.0768. Another (mild) could be seen at $1.0656 and further (strong) at $1.0491. Even BNP Paribas hints $1.04 as proper TP target, stating they opened shorts ‘at $1.0990 targeting $1.04,’ according to analyst note.
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