FXStreet (Edinburgh) - The EUR/USD is now clinging to the 1.3600 handle, looking to consolidate Monday’s pullback from highs around 1.3670.
In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, “Technical studies have shifted to a more bullish outlook; however signals are generally weak. We expect EUR to be somewhat range bound in the near term before depreciating into year-end, with a Q414 target of 1.30”.
Emmanuel Ng, FX Strategist at OCBC Bank, added “The EUR-USD is essentially back at pre-ECB levels with the respective rate differential continuing to bolster the greenback. Weekend comments from the ECB’s Coeure and Noyer yesterday continue to bear a bearish flavor and the temptation may remain for the pair to depart from the 1.3600 handle towards 1.3530”.