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”.

Strategists at Westpac have hinted at the possibility that the pair’s upside could struggle around 1.1400…

(Market News Provided by FXstreet)

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