There may be some upside in EUR/USD as the Greece story pauses, says trader, but the medium term outlook is bearish. Says EUR shorts may well scale down positions as the austerity package looks credible and as uncertainty gradually drops, especially if German lawmakers approve the deal. However, says the euro area still needs a weak currency and low key rate for long to survive. Thus targets 1.2500 in six months. EUR/USD stands now at 1.3235.
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