7 May 2015
EUR/USD still seen squeezing higher – Scotiabank
FXStreet (Edinburgh) - In the opinion of Camilla Sutton, Chief FX Strategist at Scotiabank, the pair could still have room for another temporary squeeze higher.
Key Quotes
“The focus for Europe has been its bond market, with yields driving higher and creating cascading effects across markets. Greece risk is ongoing with next week’s bond payment a major focus”.
“EURUSD short‐term technicals: bullish—with strong upward momentum driving EUR to fresh highs and above its 23.6% Fibo retracement (1.1292) and its 100‐day MA at 1.1250”.
“The risk for EUR is a temporary test higher still before it stabilizes and then fades lower. Support lies at the 100‐day of 1.1250 while resistance lies at 1.1400”.
Key Quotes
“The focus for Europe has been its bond market, with yields driving higher and creating cascading effects across markets. Greece risk is ongoing with next week’s bond payment a major focus”.
“EURUSD short‐term technicals: bullish—with strong upward momentum driving EUR to fresh highs and above its 23.6% Fibo retracement (1.1292) and its 100‐day MA at 1.1250”.
“The risk for EUR is a temporary test higher still before it stabilizes and then fades lower. Support lies at the 100‐day of 1.1250 while resistance lies at 1.1400”.