FXStreet reports that economists at Westpac discuss EUR/USD prospects.

“The surge in energy prices, notably regional gas, is now adding to concerns over supply constraints to weigh on both business and consumer expectations and so EUR has also faltered and continues to pressure range support.”

“It is critical to monitor how broader sentiment develops during the early stages of 4Q and at present that prospects appear to be continuing to weigh on expectations.” 

“Although downside momentum may be lessening, EUR/USD support in the 1.1500 region looks increasingly under pressure and a break could extend EUR/USD slippage towards 1.12.”