EUR/USD could climb to 1.15 near term – Westpac

Strategists at Westpac believe the pair could advance to the upper end of the range near the 1.15 handle in the next weeks.

Key Quotes

“EUR looks indecisive here (1.1272) as it ambles inside a larger 1.11 to 1.15 range. More inclined to buy dips for a run to the top of that range in coming weeks though, post a probable win for the remain camp at this week's UK referendum and amid more constructive Q2 Eurozone growth signals (the June ZEW expectations sub-index hit nine month highs) and a meaningfully more dovish medium term Fed policy guidance via the dots”.

“Support around June lows and lower channel trend line, around 1.1100. On the topside, reasonable amount of resistance just ahead of 1.1500, with the 100 week moving average coinciding at these levels”.