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EUR/USD: sell rallies towards 1.12 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Strategists at Westpac have recommended selling the pair on rallies towards the 1.1200 area.

    Key Quotes

    EUR/USD materially overvalued against 2yr Bund-Tsy spreads, the latter suggesting 1.05/06 is more "reasonable".

    “That said a run at 1.12 likely if Draghi does not leapfrog expectations, as seems likely”.

    “Any squeeze though likely lacks legs, the FOMC a week later likely to sound more hawkish noting that future meetings are live and the risks are balanced. EUR a sell into 1.12”.
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