EUR/USD: ‘Primed For Another Look At Higher Levels’ – NAB

EUR/USD lost the highs but may be marking a higher low in its correction. Can it tackle 1.20 once again? The team at NAB examines the next moves in euro/dollar.

Here is their view, courtesy of eFXnews:

NAB FX Strategy Research discusses EUR/USD outlook and makes a bullish case for the pair with 1.15 stands as the range’s base and with topside likely to break above 1.2091 through 2018.

“Having probed above 1.20 in August and September before pulling back, the EUR/USD is primed for another look at higher levels.

If we’re more confident of a 1.15 range base, what about the topside? We’ve been saying since June the EUR is re-pricing to a 1.15-1.25 range, but we’ll update our forecast profile in our 2018 Outlook edition in two weeks’ time and which almost certainly necessities upward revision to our EUR/USD profile.

Certainly, the 1.2091 September 2017 high should be exceeded next year, with more substantial gains in 2019,” NAB argues.

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