8 Apr 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD remains in the area of 1.3740/45 on Tuesday, looking to consolidate yesterday’s upside from 1.3700 the figure.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Rallies are expected to hold below 1.3884/1.3920. Initial resistance lies 1.3821/33 – the 20th March high and October high but intraday rallies are set to terminate 1.3755/74”.
In addition, Emmanuel Ng, Strategist at OCBC Bank, “Near term, the pair may find little conviction in either direction while the 55-day MA (1.3730) may provide an interim locus pending further cues. If however, 1.3700 and 1.3685 are successfully punctured, expect a drift towards 1.3650”.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Rallies are expected to hold below 1.3884/1.3920. Initial resistance lies 1.3821/33 – the 20th March high and October high but intraday rallies are set to terminate 1.3755/74”.
In addition, Emmanuel Ng, Strategist at OCBC Bank, “Near term, the pair may find little conviction in either direction while the 55-day MA (1.3730) may provide an interim locus pending further cues. If however, 1.3700 and 1.3685 are successfully punctured, expect a drift towards 1.3650”.