EUR/USD faces firm support in the upper-1.2200s – Scotiabank

FX Strategists at Scotiabank remain neutral/bearish on the pair, while adding that strong support aligns in the upper-1.2200s.

Key Quotes

“Spot gained steadily through the overnight session but the market appears to have topped out in the past hour or so around noted short term resistance at 1.2345. Hourly charts suggest a peak/reversal is forming around the high points seen on a couple of occasions last week”.

“Broadly, EURUSD appears to be extending its consolidation after the late 2017 run up from the mid 1.15s. We look for more, neutral ranging in the near-term and see firm support in the mid/upper 1.22s; Key support at 1.2200/05. Major resistance is 1.2550/60”.

Feb 26, 2018

Brent seen stabilizing this year – Danske Bank

Jens Pedersen, Senior Analyst at Danske Bank, believes the barrel of Brent crude should face some consolidation this year. Key Quotes “We maintain o

EUR/USD stays negative, a test of 1.2200 is alive – UOB

The pair’s stance remains negative in the near term, while a test of the 1.2200 area remains a possibility, according to FX Strategists at UOB Group.