EUR/USD: Break above 1.3650 may neutralize heavy bias - OCBC

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, shares his view on the EUR/USD, noting that 1.3650 needs to be re-taken to ease the selling pressure.



Key Quotes



"German June Ifo numbers are scheduled for release later today and the EUR-USD may continue to mark time in the 1.3600 neighborhood in the interim . As noted yesterday, a sustained break above the 1.3600-1.3650 neighborhood may neutralize our inherent heavy bias for the pair. On a more structural note, the pair’s eventual direction is expected to be determined by the tussle between ECB-inspired dovishness and prevailing broad based USD vulnerability."



You May Also Like

Related Forex Analysis
  1. EUR/USD Technical Analysis: Aiming to Clear November Low
    Forex News

    EUR/USD Technical Analysis: Aiming to Clear November Low

  2. USD again setting new highs - Nomura
    Forex News

    USD again setting new highs - Nomura

  3. EUR/USD: Bearish pressure to persist while below 1.24 - FXStreet
    Forex News

    EUR/USD: Bearish pressure to persist while below 1.24 - FXStreet

  4. Latest Promise of Easing from ECB Keeps Euro Rebound at Bay
    Forex News

    Latest Promise of Easing from ECB Keeps Euro Rebound at Bay

  5. Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market
    Forex News

    Weekly Trading Forecast: Volatility Keeps Boiling in the FX Market

Trading Center