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17 Mar 2015
EUR/USD remains a sell on strength – Westpac
FXStreet (Edinburgh) - According to strategists at Westpac, occasional bullish attempts in the pair should be regarded as selling opportunities.
Key Quotes
“EUR looks very wounded here as both cyclical and structural forces continue to weigh”.
“Pockets of better data (especially business surveys) in response to the sharp easing in Eurozone financial conditions will likely prove to be nothing more than EUR selling opportunities, as policy differentials continue to swing in the USD’s favour and net fixed income outflows pick up pace”.
“Would watch 10yr bund yields for near term direction. Price action of late suggests concerns about lopsided positions are overdone with EUR/USD seemingly intent on testing parity before mid-year”.
“Downtrend achieved another downside milestone around 1.05/1.06. Momentum is diminished but the downtrend structure firmly in place. Anticipate short term consolidation ahead of new lows”.
Key Quotes
“EUR looks very wounded here as both cyclical and structural forces continue to weigh”.
“Pockets of better data (especially business surveys) in response to the sharp easing in Eurozone financial conditions will likely prove to be nothing more than EUR selling opportunities, as policy differentials continue to swing in the USD’s favour and net fixed income outflows pick up pace”.
“Would watch 10yr bund yields for near term direction. Price action of late suggests concerns about lopsided positions are overdone with EUR/USD seemingly intent on testing parity before mid-year”.
“Downtrend achieved another downside milestone around 1.05/1.06. Momentum is diminished but the downtrend structure firmly in place. Anticipate short term consolidation ahead of new lows”.