26 Mar 2015
EUR/USD remains a buy on dips for now – OCBC
FXStreet (Barcelona) - With ECB raising the ELA limit for Greek Banks, Emmanuel Ng, FX Strategist at OCBC Bank, views that EUR/USD might keep heading towards 1.1000.
Key Quotes
“With the ECB reportedly raising the ELA (Emergency Liquidity Assistance) ceiling for Greek banks, the EUR may derive marginal support (note recent responsiveness in the spot to the short-end riskies) although the pair may continue to contemplate the pivotal 1.1000 resistance warily.”
“As noted previously however, we adhere to a buy dips posture for now.”
Key Quotes
“With the ECB reportedly raising the ELA (Emergency Liquidity Assistance) ceiling for Greek banks, the EUR may derive marginal support (note recent responsiveness in the spot to the short-end riskies) although the pair may continue to contemplate the pivotal 1.1000 resistance warily.”
“As noted previously however, we adhere to a buy dips posture for now.”