Back
2 Apr 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD is toying with the 1.3800 key barrier on Wednesday, as market participants remain focused on tomorrow’s ECB gathering and Friday’s US Payrolls.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented the pair “continues to rebound from the 1.3715 55 day ma, we continue to view this as corrective and look for failure circa 1.3820/50. While capped here, the market will remain directly offered”.
In addition, Strategist Emmanuel Ng at OCBC Bank suggested “We stay largely neutral on the pair in the interim with the 55-day MA (1.3719) expected to provide near term support and 1.3850 likely to cap ahead of the ECB on Thursday”.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented the pair “continues to rebound from the 1.3715 55 day ma, we continue to view this as corrective and look for failure circa 1.3820/50. While capped here, the market will remain directly offered”.
In addition, Strategist Emmanuel Ng at OCBC Bank suggested “We stay largely neutral on the pair in the interim with the 55-day MA (1.3719) expected to provide near term support and 1.3850 likely to cap ahead of the ECB on Thursday”.