Investors should buy the euro at current levels and bet for it to strengthen versus the dollar, according to Lloyds Banking Group Plc.
Traders should target an appreciation to $1.3241 and end the trade if the shared currency falls to $1.2192, Tim McCullough, a technical strategist at Lloyds, wrote in a note to clients today. The euro declined 1.1 percent to $1.2388 at 12:01 p.m. in New York.
The euro’s decline from $1.3487 is at an end amid signals of trend exhaustion, wrote McCullough.
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