What’s the sentiment around the EUR/USD today? - OCBC Bank and Commerzbank

By FXstreet.com | July 07, 2014 AAA

FXStreet (Edinburgh) - The EUR/USD seems to have found support in sub-1.3580 levels at the beginning of the week, attempting to regain the 1.3600 handle.



“We remain suspect of the EUR’s upside potential in the near term and if the pair loses its foothold on the 1.3600 handle, a subsequent test towards 1.3550 cannot be discounted”, noted Emmanuel Ng, FX Strategist at OCBC Bank.



In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, observed the pair “finished the week under pressure - we continue to view the market as having charted an interim top at 1.3701. The 20 day ma has been eroded and the focus is on the much more important 1.3503 recent low and the 1.3496 2012 -2014 uptrend.”



comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center