EUR/USD a Sell into 1.17 If Seen – Westpac
Strategist at Westpac Richard Franulovich has recommended selling the pair on occasional attempts towards 1.17.
“Intrinsic EUR positives are few and far between what will be a heavily bloated and still expanding ECB balance sheet and questionable growth momentum”.
“But, the USD backdrop is that much more challenging. Open to the possibility of a run at the Aug 2015 highs at 1.17+ but if anything would prefer to be a better seller at these levels, looking to position for a probable turnaround in the US data momentum in Q2”.