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EUR/USD: buy on dips - Westpac

FXStreet (Guatemala) - Analysts at Westpac Banking Corporation explained the conditions surrounding the EUR/USD a buy on dips strategy.

Key Quotes:

"Look to buy dips in EUR to 1.1230 with a stop at 1.1110. This is more a model and technicals driven signal than anything else, our macro view neutral EUR as the currency looks expensive here vis-a-vis the dire German data of late (factory orders, IP, exports and ZEW)."

"That aside, our model and technical signals are constructive: Price has stabilised above key medium term support towards 1.1100 while our G10 FX model portfolio remains long EUR for yet another week. German growth may be cooling but the model is more enamoured with the region's persistent outsized external surpluses."

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