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28 Aug 2013
Flash: EUR/USD building for test of 1.3500? – ANZ
FXstreet.com (New York) - Tim Riddell, Head of Global Markets Research at ANZ analyzes the short-term outlook of the EUR/USD and identifies fundamental signals.
Key quotes
“The EUR/USD broad 1.25-1.37 range persists – although recent gains err to the impulsive and could suggest a full test of broader range resistance in the 1.3700 area, I remain unconvinced, seeing this as a minor c-leg rebound.”
“Dips have been contained so far, but any slippage now below 1.3270 should rekindle the potential for a slide back towards 1.3050 if not the 1.2750 area.
If current firmness persists, pressure will build for an early test of the 1.3500 area, but this would still be seen in the context of broader range defining.”
Key quotes
“The EUR/USD broad 1.25-1.37 range persists – although recent gains err to the impulsive and could suggest a full test of broader range resistance in the 1.3700 area, I remain unconvinced, seeing this as a minor c-leg rebound.”
“Dips have been contained so far, but any slippage now below 1.3270 should rekindle the potential for a slide back towards 1.3050 if not the 1.2750 area.
If current firmness persists, pressure will build for an early test of the 1.3500 area, but this would still be seen in the context of broader range defining.”