Fade USD dips. First look to EUR/USD at 1.1750

EUR/USD is down 3 pips to 1.1735 today

EUR/USD is down 3 pips to 1.1735 today

TD Research likes fading rallies in EUR/USD from 1.1750.

We reckon that dips in the USD will get faded as
payrolls matter more for the taper discussion then what is a well-known
story of ‘transitory’ inflation pressures peaking,” TD notes. 

“More broadly, the US real rates have diverged from its German peers
(thanks Clarida); the last time this happened was in late February and
through March, which also saw broad USD strength and a 5 big figure drop
in EURUSD. First fade level comes in at 1.1750,” TD adds.

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