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9 Feb 2015
What lies ahead of EUR/USD today? – OCBC Bank and Commerzbank
FXStreet (Edinburgh) - EUR/USD keeps the trade in the vicinity of 1.1320/30, recovering ground after a negative start in sub-1.1300 levels.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “spent much of last week consolidating just below the initial retracement level at 1.1520 (23.6% retracement of the move down from October 2014), selling off after payrolls on Friday. The market remains corrective near term”.
In addition, FX Strategist at OCBC Bank Emmanuel Ng suggested “EUR-USD may sit precariously on the 1.1300 ledge pending further Hellenic-related news flow this week with the next support only expected at 1.1200”.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “spent much of last week consolidating just below the initial retracement level at 1.1520 (23.6% retracement of the move down from October 2014), selling off after payrolls on Friday. The market remains corrective near term”.
In addition, FX Strategist at OCBC Bank Emmanuel Ng suggested “EUR-USD may sit precariously on the 1.1300 ledge pending further Hellenic-related news flow this week with the next support only expected at 1.1200”.