Back
10 Feb 2015
What’s the sentiment around EUR/USD today? – OCBC Bank and Commerzbank
FXStreet (Edinburgh) - The single currency remains above the 1.1300 handle during the first half of the week, with the main focus on the Greek developments.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested, “Our view remains intact and we expect the EUR-USD to sit precariously on the 1.1300 ledge despite the improvement in the improvement in the February Sentix investor confidence index. Hellenic related news flow will be expected to continue to dominate the scene with the next key support only expected at 1.1200”.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued the pair “has eased back from the 20 day ma and the initial retracement level at 1.1520 (23.6% retracement of the move down from October 2014). The market is consolidating near term. While above minor support at 1.1262 a slight upside bias to have another run up towards the 20 day ma remains”.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested, “Our view remains intact and we expect the EUR-USD to sit precariously on the 1.1300 ledge despite the improvement in the improvement in the February Sentix investor confidence index. Hellenic related news flow will be expected to continue to dominate the scene with the next key support only expected at 1.1200”.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued the pair “has eased back from the 20 day ma and the initial retracement level at 1.1520 (23.6% retracement of the move down from October 2014). The market is consolidating near term. While above minor support at 1.1262 a slight upside bias to have another run up towards the 20 day ma remains”.