EUR/USD focus on Draghi, supported at 1.10/1.11 – Westpac

According to Strategist Richard Franulovich at Westpac, the pair could find a base in the 1.10/1.11 area, while the immediate risk remains Draghi’s presser today.

Key Quotes

“EUR likely to fi nd a base into 1.10-1.11, amid potentially diminished June 15 Fed hike expectations if payrolls underwhelms”.

“EUR likely to bask into the afterglow of a more upbeat Draghi press conference too, certainly upwardly revised staff CPI projections thanks to higher oil prices should limit his scope for dovishness”.