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23 Apr 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and Danske Bank
FXStreet (Edinburgh) - The EUR/USD attempted a spike to the boundaries of 1.3840, although a defined direction remains absent ahead of today’s PMI prints.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Intraday dips should remain well supported circa 1.3785. Key support is the 9 month support line at 1.3734 and the end of February low at 1.3643. Failure here will target the 1.3476 2014 low and 1.3450 the 55 MONTH ma en route to the 1.3340 2012-2014 uptrend”.
In addition, Analyst Pernille Nielsen at Danske Bank commented, “EUR/USD continues to trade sideways around the 1.38 level and it appears that range trading will remain the name of the game for a period of time. The next trigger event for a break out of the range is likely to come from a re-pricing of one of the two central banks”.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Intraday dips should remain well supported circa 1.3785. Key support is the 9 month support line at 1.3734 and the end of February low at 1.3643. Failure here will target the 1.3476 2014 low and 1.3450 the 55 MONTH ma en route to the 1.3340 2012-2014 uptrend”.
In addition, Analyst Pernille Nielsen at Danske Bank commented, “EUR/USD continues to trade sideways around the 1.38 level and it appears that range trading will remain the name of the game for a period of time. The next trigger event for a break out of the range is likely to come from a re-pricing of one of the two central banks”.