EUR/USD: Looking to sell a bounce towards 1.3480/1.3500 - Westpac

By FXstreet.com | Updated August 18, 2014 AAA

FXStreet (Bali) - Westpac thinks that the EUR/USD is overdue for a bounce towards 1.3480/1.3500 area, with such moves, if confirmed, seen as a selling opportunity.



Key Quotes



"EUR/USD is making very heavy weather of the 1.3330/45 area while EUR/GBP has bounced around viciously in a 0.79-0.80 range in August so far, closing above 0.80 each session since the dovish BoE inflation report."



"While it’s very early days, the last two weeks has seen a lot thrown at EUR/USD and it hasn’t been able to break to fresh lows."



"We maintain our bearish EUR view for another week, but remain of the view the market is overdue a bounce towards the 1.3480/1.3500 area. We want to sell such a bounce."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Euro’s Hope Lies in ECB’s Economic Projections, Not in Greece

  2. Forex News

    Weekly Trading Forecast: Expect Heavy Seas Between NFPs, ECB and RBA

  3. Forex News

    Trading Video: Expect Volatility for the Dollar, Equities, Euro...Everything

  4. Forex News

    GBP/USD Stalls at Key Juncture - Outlook Hinges on BoE, NFP

  5. Forex News

    FX CFTC report - TDS

Trading Center