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3 Jun 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD keeps treading water around the key 1.3600 handle on Tuesday while market participants expect the critical inflation figures in the euro area due later.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented the pair “has been consolidating near term. Having broken recently below the 200 day ma at 1.3644 any rebounds are likely to remain tepid, and currently they are indicated terminate circa 1.3680”.
“EZ inflation numbers are due and expect the EUR to remain under the weather in the interim, especially on the back of yet more dovish rhetoric from the ECB’s Linde and Nowotny. In the interim, the 200-day MA (1.3646) may continue to limit upside potential while 1.3585 may continue to attract pending EZ releases later today”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented the pair “has been consolidating near term. Having broken recently below the 200 day ma at 1.3644 any rebounds are likely to remain tepid, and currently they are indicated terminate circa 1.3680”.
“EZ inflation numbers are due and expect the EUR to remain under the weather in the interim, especially on the back of yet more dovish rhetoric from the ECB’s Linde and Nowotny. In the interim, the 200-day MA (1.3646) may continue to limit upside potential while 1.3585 may continue to attract pending EZ releases later today”, observed Emmanuel Ng, FX Strategist at OCBC Bank.