26 Mar 2014
What lies ahead of the EUR/USD? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD is now trading on a softer tone, clinging to the key mark at 1.3800 despite the prevailing risk-on tone in the markets.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “has again held the 1.3749 low of last week and we remain unable to rule out further stabs higher, but we look for these to remain limited… We remain of the view that the market has recently topped and is likely to come under increasing downside pressure”.
Emmanuel Ng, Strategist at OCBC Bank, commented, “Although we do not detect undue discomfort towards the EUR’s latest strengthening from the ECB at this juncture, yesterday’s concerted effort at jawboning (on the potential for looser policy) may well warrant some attention going ahead. We remain on the sidelines with respect to the pair within a 1.3730-1.3870 range”.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “has again held the 1.3749 low of last week and we remain unable to rule out further stabs higher, but we look for these to remain limited… We remain of the view that the market has recently topped and is likely to come under increasing downside pressure”.
Emmanuel Ng, Strategist at OCBC Bank, commented, “Although we do not detect undue discomfort towards the EUR’s latest strengthening from the ECB at this juncture, yesterday’s concerted effort at jawboning (on the potential for looser policy) may well warrant some attention going ahead. We remain on the sidelines with respect to the pair within a 1.3730-1.3870 range”.