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21 Oct 2014
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) -EUR/USD is extending its breakout of 1.2800 the figure on Tuesday, posting weekly highs near 1.2830.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is upside corrective short term into the 1.2955/1.3100 band, where we would expect the rally to fail. The market remains under pinned short term by a near term support line at 1.2693, and while above here a near term upside bias remains”.
“The pair may remain adrift ahead of the EZ PMIs on Thursday while remaining neutrally anchored around the 1.2800 neighborhood pending further global cues”, observed Emmanuel Ng, FX Strategist at OCBC Bank.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is upside corrective short term into the 1.2955/1.3100 band, where we would expect the rally to fail. The market remains under pinned short term by a near term support line at 1.2693, and while above here a near term upside bias remains”.
“The pair may remain adrift ahead of the EZ PMIs on Thursday while remaining neutrally anchored around the 1.2800 neighborhood pending further global cues”, observed Emmanuel Ng, FX Strategist at OCBC Bank.