29 Aug 2013
Flash: What’s the sentiment around the EUR/USD? – Commerzbank and ANZ
FXstreet.com (Edinburgh) -The bearishness around the single currency is gathering steam on Thursday, as the geopolitical tensions continue to swell and the EUR/USD is now farther from the significant resistance at 1.3400/20.
According to Axel Rudolph, Senior Technical Analyst at Commerzbank, “Last week’s 1.3298 low is now exposed and we look for a slide to the 1.3208/1.3188 support area. Failure here will mean that a significant top has indeed been made”.
In the same line, Tim Riddell, head of Global Markets Research at ANZ, suggested, “Dips have been contained so far, but any slippage now below 1.3270 should rekindle the potential for a slide back towards 1.3050 if not the 1.2750 area”.
According to Axel Rudolph, Senior Technical Analyst at Commerzbank, “Last week’s 1.3298 low is now exposed and we look for a slide to the 1.3208/1.3188 support area. Failure here will mean that a significant top has indeed been made”.
In the same line, Tim Riddell, head of Global Markets Research at ANZ, suggested, “Dips have been contained so far, but any slippage now below 1.3270 should rekindle the potential for a slide back towards 1.3050 if not the 1.2750 area”.