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Forex pairs in this Article » EUR/USD
FXStreet (Edinburgh) - The EUR/USD is flat-lining in the vicinity of 1.3740 on Wednesday, extending the recent consolidation pattern amidst a lack of catalyst and relevant data.

“A break below 1.3685 is needed to alleviate upside pressure and signal a slide back to the 1.3562, 12th February low and then the 1.3517 3 month support line”, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

In the opinion of Emmanuel Ng, Strategist at OCBC Bank, “German GDP readings were supportive on Tuesday and our view for the pair in the near term remains unchanged. Expect initial resistance around 1.3770/85 while 1.3700 may provide support on near term dips”.
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