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EUR/USD keeps the neutral bias – Westpac

FXStreet (Edinburgh) - According to strategists at Westpac, the pair’s outlook remains on the neutral camp for the time being.

Key Quotes

“Topside follow-through in EUR/USD on the Fed’s decision to delay lift off has proven to be very underwhelming”.

“Fedspeak this week should keep the spirit of Fed rate lift-off at some point this year alive”.

“A likely softer advance Sep Eurozone PMI, if the cue from the ZEW expectations index is anything to go by, likely stymies EUR prospects too”.

“Draghi likely to talks up QE expansion when he appears before Parliament this week. EUR may trade with a 1.11 handle this week”.

“Reversal from 1.1460/80 has been aggressive, keeping pressure on the downside in the short term. Strong support expected at 1.1120/50. Neutral bias”.

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