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4 Mar 2015
EUR/USD points to 1.10/1.08 in the near term – Westpac
FXStreet (Edinburgh) - Strategists at Westpac believe the pair could visit the area of 1.10/1.08 in the upcoming weeks.
Key Quotes
“EUR/USD not showing much inspiration either way. The local data flow has undeniably improved and some data points point to clear green shoots”.
“However, amid QE and a poor capital flow backdrop EUR will struggle to capitalize on improved data trends. EUR/USD is unlikely to trade much beyond 1.15 if at all”.
“Last week’s downside range breakout confirmed a return to the downtrend. Target 1.08/1.10 in the coming weeks”.
Key Quotes
“EUR/USD not showing much inspiration either way. The local data flow has undeniably improved and some data points point to clear green shoots”.
“However, amid QE and a poor capital flow backdrop EUR will struggle to capitalize on improved data trends. EUR/USD is unlikely to trade much beyond 1.15 if at all”.
“Last week’s downside range breakout confirmed a return to the downtrend. Target 1.08/1.10 in the coming weeks”.