5 Sep 2013
Flash: EUR/USD still on track for dive lower – Westpac
FXstreet.com (Lisbon) - The EUR/USD still is on track to break lower towards 1.3000 initially and then major support at 1.2850, suggests Sean Callow, a Global FX Strategist at Westpac.
Key quotes
“The week ahead should see a test of 1.3140. The EU-US 2yr swap spread has fallen since mid-August and will probably turn negative soon.”
“Italian politics remain a headwind (Berlusconi threatening the coalition) as does the specter of an attack on Syria, with France’s rhetoric pointing to involvement. EUR/GBP is poised to fall further and break below major support at 0.8400, UK data unambiguously strong lately.”
Key quotes
“The week ahead should see a test of 1.3140. The EU-US 2yr swap spread has fallen since mid-August and will probably turn negative soon.”
“Italian politics remain a headwind (Berlusconi threatening the coalition) as does the specter of an attack on Syria, with France’s rhetoric pointing to involvement. EUR/GBP is poised to fall further and break below major support at 0.8400, UK data unambiguously strong lately.”