FXStreet (Edinburgh) - Strategists at Westpac Global Strategy Group see a test of the 1.3200 handle as unlikely in the very near term.



Key Quotes



“After more than 2 weeks of congestion with a 1.33 handle, EUR/USD has broken lower and could be ontrack for substantial further decline”.



“However, with spec positioning already heavily short, it is hard to make the case that a 1.32 handle is attractive for fresh positions”.



“The week ahead should tend mildly negative for EUR/USD but is overshadowed by the early Sep data flurry so while retaining a downward bias on the week, we suspect new lows will only be marginal”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    A Fundamental Push for Key EURUSD, GBPUSD and USDJPY Levels?

  2. Forex News

    EURUSD and GBPUSD Will Decide Make-or-Break In Holiday Trading Conditions

  3. Forex News

    Holiday Conditions and Record Equities Remind of Bigger Liquidity Risks

  4. Forex News

    Greek optimism hitting brick wall - BBH

  5. Forex News

    EUR/USD re-focused on 1.1000

Trading Center