EUR/USD could jump to 1.14 near-term – Westpac

The pair could see its upside renewed in the near term, allowing a retest of the 1.1400 area, suggested Richard Franulovich, Strategist at Westpac.

Key Quotes

“EUR trading with a weak tone but hard to see it much through 1.10, if at all, given risks of a weaker USD”.

“Draghi likely to strike a wait and see tone at next week’s ECB press conference and may even have some flashes of optimism given that fresh ECB staff projections are likely to show some upward revisions to 2016 and 2017 inflation, albeit energy driven”.

“EUR could see a good bounce back toward 1.14 next week”.