Back
19 Mar 2014
Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD is returning to the area of 1.3910 after hitting session highs just above 1.3930 earlier, with markets warming up for the FOMC gathering due this evening in Europe.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is sitting just below key levels, around the 1.3958 50% retracement of the sell-off from the 2008 peak, and we continue to suspect that the move will fail circa 1.40”.
“Near term, our view on the pair remains unchanged and expect initial resistance around 1.3970 while support may emerge around the 1.3900/15 area”, suggested Emmanuel Ng, Strategist at OCBC Bank.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is sitting just below key levels, around the 1.3958 50% retracement of the sell-off from the 2008 peak, and we continue to suspect that the move will fail circa 1.40”.
“Near term, our view on the pair remains unchanged and expect initial resistance around 1.3970 while support may emerge around the 1.3900/15 area”, suggested Emmanuel Ng, Strategist at OCBC Bank.