3 Feb 2015
What’s the sentiment around EUR/USD today? – UOB and Commerzbank
FXStreet (Edinburgh) - EUR/USD remains above the 1.1300 handle at the beginning of the week, amidst a generalized lack of direction in the markets.
“Instead of moving lower as expected, EUR traded in a range yesterday. While the undertone is positive for today, any up-move will likely struggle to break above 1.1400. Strong support is at 1.1295”, noted analysts at UOB Group.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “is just holding sideways and remains dominated by its downtrend at 1.1364, it is more negative intraday and suggesting that 1.1423 was the end of the corrective phase”.
“Instead of moving lower as expected, EUR traded in a range yesterday. While the undertone is positive for today, any up-move will likely struggle to break above 1.1400. Strong support is at 1.1295”, noted analysts at UOB Group.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “is just holding sideways and remains dominated by its downtrend at 1.1364, it is more negative intraday and suggesting that 1.1423 was the end of the corrective phase”.