Limited Upside Potential for EURUSD

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The EURUSD remains bid on every single market pullback. Ever since the ECB intervened verbally and talked the EURUSD down, the pair did not come closer to the 1.20 again. 
An interesting perspective on the EURUSD pair is that if we use the 10-year average deviation and the USD real effective FX rate, the EURUSD long-term equilibrium value points to 1.30. This comes in line with the IMF’s view that the common currency is too…

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