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Westpac: short EUR/USD

Analysts at Westpac doubt that EUR/USD would hold above the $1.3200 mark. They went short on the pair from $1.3210 and are prepared to increase them in case of a rise to $1.3350. The target lies at $1.2850 and a stop – at $1.3400.

According to analysts at Westpac, EUR looks very expensive. They believe that the US dollar has now found a strong base and should see multi-day gains going forward. The key will be the raft of Fed speakers due next week and to what extent they mimic Bernanke's more hawkish stance.

Chart. H4 EUR/USD


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