10 Jul 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - After hitting fresh highs around 1.3650, the EUR/USD is now parked in the 1.3635/30 area ahead of the US docket.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s “recovery appears to be gaining traction. The market appears is not quite ready to test the much more important 1.3503 recent low and the 1.3496 2012 -2014 uptrend”.
In the same tone, FX Strategist Emmanuel Ng at OCBC Bank, added, “A soggy dollar may continue to override dovish rhetoric from the ECB in the near term although our view remains largely unchanged at this juncture. Investors may look to collect on any southward corrective moves with 1.3530 likely to support. On the topside, the 1.3680 region is expected to cap”.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s “recovery appears to be gaining traction. The market appears is not quite ready to test the much more important 1.3503 recent low and the 1.3496 2012 -2014 uptrend”.
In the same tone, FX Strategist Emmanuel Ng at OCBC Bank, added, “A soggy dollar may continue to override dovish rhetoric from the ECB in the near term although our view remains largely unchanged at this juncture. Investors may look to collect on any southward corrective moves with 1.3530 likely to support. On the topside, the 1.3680 region is expected to cap”.