Forex Flash: What lies ahead of EUR/USD? – Commerzbank, UBS and Westpac
Forex pairs in this Article »
EUR/USD
FXstreet.com (Barcelona) - The shared currency is orbiting around 1.3330 on Monday, with market participants focusing on the two-day Eurogroup starting today.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argues, "EURUSD spent much of last week pinned within the 1.3250-1.3400 zone. This leaves attention and pressure still on the topside. Above 1.3405 we look for gains towards tough long-term resistance at 1.3485/1.3560& We look for this to hold the topside and provoke failure".
G.Berry and G.Yu, Strategists at UBS, keep the bullish sentiment around the cross, suggesting, "Resistance is at 1.3404, a break above this would open 1.3493. Support lies at 1.3249 ahead of 1.3201".
"Some mixed messages on the degree of concern over EUR strength have tempered gains but we retain our 1.35 one month target. Improved nancial conditions are supportive while Fed QE will continue unabated for now", comments S.Callow, analyst at Westpac.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argues, "EURUSD spent much of last week pinned within the 1.3250-1.3400 zone. This leaves attention and pressure still on the topside. Above 1.3405 we look for gains towards tough long-term resistance at 1.3485/1.3560& We look for this to hold the topside and provoke failure".
G.Berry and G.Yu, Strategists at UBS, keep the bullish sentiment around the cross, suggesting, "Resistance is at 1.3404, a break above this would open 1.3493. Support lies at 1.3249 ahead of 1.3201".
"Some mixed messages on the degree of concern over EUR strength have tempered gains but we retain our 1.35 one month target. Improved nancial conditions are supportive while Fed QE will continue unabated for now", comments S.Callow, analyst at Westpac.
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