EUR/USD has been trading in a narrow range and not going anywhere fast. Does it now have room to run?
Here is their view, courtesy of eFXdata:
ANZ Research discusses EUR/USD outlook and advises buying around current levels and average into near-term dips targeting a move towards 1.25 over the medium-term.
“From a number of perspectives, therefore, we think euro weakness has run much of its course for now and advise buying into weakness.
Reduced trade uncertainty, a stabilization in the data, discounted policy rate differentials, a large current account surplus and the geopolitical sensitivities of exchange rate moves all suggest it may be close to, or already have reached, its lows on this move.
We advise buying the EUR vs USD at current levels and averaging into any near-term weakness. We look for a medium-term move towards 1.25 and above,†ANZ advises.
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