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18 Mar 2015
What’s the sentiment around EUR/USD today? – UOB and Commerzbank
FXStreet (Edinburgh) - EUR/USD remains in the vicinity of 1.0600 the figure on Wednesday, trading in a tight range ahead of the FOMC meeting.
Analysts at UOB Group commented “EUR edged above the 1.0640 resistance (high of 1.0650) before easing off to trade sideways. While further range trading is expected, the positive undertone suggests another test towards 1.0650 is likely. Allow for a move 1.0550 but 1.0510 is expected to hold for a move to 1.0650”.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “Slightly longer term we have now seen a weekly close below the 30 Year channel and this introduces scope to the 1.0080, 1.00/0.9900 zone and potentially 0.9610 the 61.8% retracement of the move up from 1985”.
Analysts at UOB Group commented “EUR edged above the 1.0640 resistance (high of 1.0650) before easing off to trade sideways. While further range trading is expected, the positive undertone suggests another test towards 1.0650 is likely. Allow for a move 1.0550 but 1.0510 is expected to hold for a move to 1.0650”.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “Slightly longer term we have now seen a weekly close below the 30 Year channel and this introduces scope to the 1.0080, 1.00/0.9900 zone and potentially 0.9610 the 61.8% retracement of the move up from 1985”.