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EUR/USD focus on 1.10, neutral in the near term – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to strategists at Westpac, the pair’s outlook in the short-term keeps pointing to the neutral camp.

    Key Quotes

    “Neutral EUR right here though would not be surprised to see a low volume rally into 1.11/1.12 if the FOMC statement next week elevates concerns about global and market developments and related to that increased downside inflation risks”.

    “Would not get too carried away though - the plunge in energy prices and the higher EUR TWI will punch a hole in the ECB's inflation forecasts and could trigger fresh easing in March when the staff's forecasts are updated”.

    EUR/USD has made a series of higher lows however momentum is lacking and multiple failures at 1.10 have shown this is a strong resistance level. Neutral”.
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