In opinion of strategists at Westpac, spot could visit the area of 1.08 in the very near term. Key Quotes “We have run with a bearish outlook on EUR for the last couple of weeks. This week we extend it to three”. “Softer data outcomes, the recent tightening in financial conditions across Europe and the material downward revision from the Bundesbank for its 2016 CPI forecast in February all argue for much larger than expected ECB easing on March 10. Expect to see 1.08 second week March”. “Signs across all time frames that EUR/USD should go lower. However significant amount of support around 1.10 to get through first and unlikely to see that happen just yet”. For more information, read our latest forex news.