EUR/USD is struggling to recover and suffering for many reasons. But has it gone too far?
Here is their view, courtesy of eFXdata:
ANZ Research discusses EUR/USD outlook and thinks that current levels provide an attractive opportunity for medium-term long exposure. ANZ’s current fair value for EUR/USD is 1.17.
“A lot of negative news is priced into the euro. Some of it mirrors the sharp moderation in euro area inflation and PMIs over H1 2018, and some reflects the burst of risk aversion that followed the developments in Italian politics.
But, with both these factors turning less negative and the ECB is preparing markets for the end of quantitative easing, we believe that current levels of the euro should be seen as an appealing entry point,†ANZ argues.
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