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10 Feb 2016
EUR/USD faces strong resistance at 1.14-1.16 – Westpac
Strategists at Westpac view the area of 1.14-1.16 as a tough hurdle for the pair.
Key Quotes
“EUR strength exacerbating the sharp tightening in financial conditions already being delivered via bank and sovereign credit spreads”.
“ECB likely to deliver a heftier easing March 10, dovish speak from the likes of Weidmann ("economic skies more cloudy than a few weeks ago") all but sealing the case for more action. EUR has repeatedly failed into 1.14-1.16, upside momentum in any case likely to stall out closer to the ECB meeting”.
Key Quotes
“EUR strength exacerbating the sharp tightening in financial conditions already being delivered via bank and sovereign credit spreads”.
“ECB likely to deliver a heftier easing March 10, dovish speak from the likes of Weidmann ("economic skies more cloudy than a few weeks ago") all but sealing the case for more action. EUR has repeatedly failed into 1.14-1.16, upside momentum in any case likely to stall out closer to the ECB meeting”.