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30 Jun 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and Scotiabank
FXStreet (Edinburgh) - The EUR/USD remains in the upper end of the range on Monday after the key flash CPI in the euro area left no room for surprises in May.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “held steady to slightly higher last week, the market is approaching our first corrective target at 1.3670 (the 200 day ma is also found here at 1.3672), failure here will see attention revert to the 1.3503 recent low and the 1.3482 2012 -2014 uptrend”.
Camilla Sutton, Chief FX Strategist at Scotiabank, noted the short term technicals are mixed, “with spot somewhat range bound and not giving clear directional indications. We expect more of the same for EUR in the near term; eventually favouring the downside. Support lies at 1.3580 and resistance comes in at the 200-day MA at 1.3673”.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “held steady to slightly higher last week, the market is approaching our first corrective target at 1.3670 (the 200 day ma is also found here at 1.3672), failure here will see attention revert to the 1.3503 recent low and the 1.3482 2012 -2014 uptrend”.
Camilla Sutton, Chief FX Strategist at Scotiabank, noted the short term technicals are mixed, “with spot somewhat range bound and not giving clear directional indications. We expect more of the same for EUR in the near term; eventually favouring the downside. Support lies at 1.3580 and resistance comes in at the 200-day MA at 1.3673”.