EUR/USD: 1.65 barrier to hold – ANZ
|Economists at ANZ Bank are broadly neutral at the current level of EUR/SGD around 1.60. They see slight upside but 1.65 is still off-limit.
Key quotes
“We see a slight upside risk in EUR/SGD in the coming quarter. However, as seen in August, 1.65 remains a firm topside barrier which we expect to hold. Thereafter, we expect SGD to start to outperform EUR steadily through 2021, as the recovery of the Singapore economy gathers pace.”
“As with other currency pairs, we expect relative growth and fiscal space to be key drivers over the longer-term.”
“Given the relatively small range we expect the cross to trade in, we advise position taking at relatively extreme levels: toward 1.65 for turning short and 1.58-1.59 for picking up the cross. Small positive forward points are slightly to the favour of sellers.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.