10 Mar 2015
EUR/USD could hit parity in 6-month - Westpac
FXStreet (Edinburgh) - Strategists at Westpac see the pair grinding lower to the parity level in a 6-month view.
Key Quotes
“EUR atmospherics remain poor. Emerging green shoots on the activity front will do little to boost the currency with ECB QE and a persistent bond and equity net capital outflows a powerful set of headwinds”.
“Parity very achievable on a 6-month horizon”.
“Downtrend is well-established and upside is limited. Resistance at 1.0880/00. Minor support at 1.0765. Interim target at 1.0550/1.0600.
Key Quotes
“EUR atmospherics remain poor. Emerging green shoots on the activity front will do little to boost the currency with ECB QE and a persistent bond and equity net capital outflows a powerful set of headwinds”.
“Parity very achievable on a 6-month horizon”.
“Downtrend is well-established and upside is limited. Resistance at 1.0880/00. Minor support at 1.0765. Interim target at 1.0550/1.0600.