26 Nov 2013
Flash: EUR heading higher into Dec? - TDS
FXstreet.com (London) - Strategists noted how EUR/USD held within the range of the past week.
Key Quotes:
“EUR/USD held within the range of the past week although the pair has remained well supported in recent days and has made another run at key resistance near 1.3560/70 (last week’s high’s, 40-day moving average, 50% retrace of Oct/Nov decline)”.
“Fundamentally, we see little reason to be bullish on the EUR in a broader sense, and short term rate spreads continue to point to a spot rate for EUR/USD that would be more consistent near 1.32; however, we do acknowledge the seasonal pattern in recent years that has tended toward a higher EUR into December”.
Key Quotes:
“EUR/USD held within the range of the past week although the pair has remained well supported in recent days and has made another run at key resistance near 1.3560/70 (last week’s high’s, 40-day moving average, 50% retrace of Oct/Nov decline)”.
“Fundamentally, we see little reason to be bullish on the EUR in a broader sense, and short term rate spreads continue to point to a spot rate for EUR/USD that would be more consistent near 1.32; however, we do acknowledge the seasonal pattern in recent years that has tended toward a higher EUR into December”.