10 Jun 2015
EUR/USD forecast: What’s the sentiment today? – OCBC Bank and Commerzbank
FXStreet (Edinburgh) - EUR/USD has clinched the 1.1300 area following the unexpected comments by BoJ’s Kuroda, sparking a wave of selling interest around the dollar.
In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, “With European officials reportedly dismissing the latest Greek version of proposed reforms, the EUR-USD may remain reluctant on the upside ahead of the Tsipras-Merkel-Hollande today. EZ GDP figures released yesterday were a non-mover (in line with expectations) and the pair may be expected to find interim support around 1.1200 pending further Greek news flow”.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted “Should a close above 1.1353/80 downtrend and recent high be seen, we would allow for a further attempt on the topside towards the 1.1468 May high and 1.1534, the February high”.
In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, “With European officials reportedly dismissing the latest Greek version of proposed reforms, the EUR-USD may remain reluctant on the upside ahead of the Tsipras-Merkel-Hollande today. EZ GDP figures released yesterday were a non-mover (in line with expectations) and the pair may be expected to find interim support around 1.1200 pending further Greek news flow”.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted “Should a close above 1.1353/80 downtrend and recent high be seen, we would allow for a further attempt on the topside towards the 1.1468 May high and 1.1534, the February high”.