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EUR/USD faces strong resistance at 1.14-1.16 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Strategists at Westpac view the area of 1.14-1.16 as a tough hurdle for the pair.

    Key Quotes

    EUR strength exacerbating the sharp tightening in financial conditions already being delivered via bank and sovereign credit spreads”.

    ECB likely to deliver a heftier easing March 10, dovish speak from the likes of Weidmann ("economic skies more cloudy than a few weeks ago") all but sealing the case for more action. EUR has repeatedly failed into 1.14-1.16, upside momentum in any case likely to stall out closer to the ECB meeting”.
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