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

Related Forex Analysis
  1. GBP/USD bounces and hits fresh daily highs
    Forex News

    GBP/USD bounces and hits fresh daily highs

  2. EUR/USD testing highs around 1.2415
    Forex News

    EUR/USD testing highs around 1.2415

  3. AUD/USD Triangulates on H4; EUR/USD, GBP/USD Holding Range Lows
    Forex News

    AUD/USD Triangulates on H4; EUR/USD, GBP/USD Holding Range Lows

  4. German IFO surprised on the upside – BBH
    Forex News

    German IFO surprised on the upside – BBH

  5. GBP/USD consolidating midrange – FXStreet
    Forex News

    GBP/USD consolidating midrange – FXStreet

Trading Center