7 Apr 2015
EUR/USD aims to 1.12/1.14 near-term – Westpac
FXStreet (Edinburgh) - Strategists at Westpac see the possibility that the pair could clinch the area of 1.12/1.14 in the coming weeks.
Key Quotes
“EUR/USD looks torn between ongoing ECB QE on the one hand and a relentless run of weaker US data on the other”.
“EUR/USD may be in the early stages of settling into a wide 1.05-1.10 range, though we have a nagging feeling it may well explore higher levels near term given the FOMC minutes this week are sure to expand on that meeting’s dovish tilt, where the economy was downgraded from ‘solid’ to ‘moderate’ and the interest rate dots were cut back sharply”.
“The recent dip held above the 61.8% retrace at 1.0685, maintaining March’s bullish reversal pattern as the dominant structure. Target 1.12/1.14 in the coming weeks”.
Key Quotes
“EUR/USD looks torn between ongoing ECB QE on the one hand and a relentless run of weaker US data on the other”.
“EUR/USD may be in the early stages of settling into a wide 1.05-1.10 range, though we have a nagging feeling it may well explore higher levels near term given the FOMC minutes this week are sure to expand on that meeting’s dovish tilt, where the economy was downgraded from ‘solid’ to ‘moderate’ and the interest rate dots were cut back sharply”.
“The recent dip held above the 61.8% retrace at 1.0685, maintaining March’s bullish reversal pattern as the dominant structure. Target 1.12/1.14 in the coming weeks”.