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EUR/USD upside capped near 1.14 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Strategists at Westpac have hinted at the possibility that the pair’s upside could struggle around 1.1400.

    Key Quotes

    “Not a lot to do or say while EUR/USD ambles in a wide 1.08-1.14 range for yet another week”.

    “Major negative revisions to Q1 US growth forecasts put a dampener on the EZ-US growth and policy divergence theme but this bullish USD story should reassert itself in due course, pushing EUR back to the bottom of its wide 1.08-1.14 range”.

    “Weak hard data for Q1 is mostly a Jan/Feb story. Since then US financial conditions have eased materially and the regional PMIs for March - more up to date reads on the US economy - have bounced aggressively. EUR unlikely to sustain gains above 1.14 for any amount of time”.
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