Sell EUR/USD After 2 More Positive EZ Headlines, Some Short EUR Covering - Westpac

Investors looking to sell EUR/USD should wait until the pair approach the 1.3050 level in the near term, said Sean Callow, senior currency strategist at Westpac Bank in an interview with CNBC.

That could be possibly materialized over the next 2 days after a couple of more positive headlines out of the eurozone along with some short EUR covering given that the market is overly shorting the EUR right now, he added.

In the long term Mr. Callow sees the EUR coming under renewed pressure with the Greek exit trade playing out again in Q3 2013. 

Copyright © 2017 Credit Agricole CIB, eFXnews™