26 Sep 2013
Flash: EUR/USD still targeting 1.37+ - Westpac
FXstreet.com (Barcelona) - Westpac technical analysts continue to target 1.37+ for EUR/USD.
Key Quotes
"However, the EU-US data pulse remains structurally more upbeat for the US$."
"Our G10 FX model is also selling EUR too."
"Net net, we are watching closely for any signs of a breakdown in price action that will lead us to add to our model based short."
"Important in this view will be how quickly the German coalition is formed, the colour of this coalition and policy towards Europe."
"Next week's ECB meeting will be important too. All up, we favour beginning to look to build short EUR positions."
Key Quotes
"However, the EU-US data pulse remains structurally more upbeat for the US$."
"Our G10 FX model is also selling EUR too."
"Net net, we are watching closely for any signs of a breakdown in price action that will lead us to add to our model based short."
"Important in this view will be how quickly the German coalition is formed, the colour of this coalition and policy towards Europe."
"Next week's ECB meeting will be important too. All up, we favour beginning to look to build short EUR positions."