EUR looks indecisive here - Westpac

Research Team at Westpac, suggests that the EUR looks indecisive here (1.1272) as it ambles inside a larger 1.11 to 1.15 range.

Key Quotes

“More inclined to buy dips for a run to the top of that range in coming weeks though, post a probable win for the remain camp at this week's UK referendum and amid more constructive Q2 Eurozone growth signals (the June ZEW expectations sub-index hit nine-month highs) and a meaningfully more dovish medium term Fed policy guidance via the dots.

Technical: Support around June lows and lower channel trend line, around 1.1100. On the topside, reasonable amount of resistance just ahead of 1.1500, with the 100 week moving average coinciding at these levels.”