EUR/USD could reach 1.1500 – Westpac

FXStreet (Edinburgh) - Strategists at Westpac see scope for the pair to reach the area of 1.1500 in the near term.

Key Quotes

“Near term data flow likely to accentuate prevailing macro trends, with risks building for an underwhelming US April payrolls while Eurozone GDP data next week should show a (healthy-ish) 0.5% quarterly growth clip”.

“EUR/USD is now above both its 50 and 100 day moving averages and apt to make a run at 1.15, supported by more favourable relative data trends, before this run higher exhausts itself”.