EUR/USD bearish near term – Westpac

By FXStreet Imre Speizer, Strategist at Westpac, argued the pair’s outlook remains bearish in the near term.

Key Quotes

“We retain a negative bias for the week ahead, having reached last week’s target of 1.1000 with momentum still pointing downwards”.

“Should it sustain its break below 1.1000, then a trading range of 1.0800-1.1000 is likely”.

“The downward pressure on the EUR is consistent with the approach of the 10 March ECB meeting, where an announcement on additional easing is likely given the slump in economic momentum so far this year”.
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Source:: FX Street