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”.
(Market News Provided by FXstreet)