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3 Apr 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD is hovering over the 1.3770/65 area on Thursday, while market participants wait for the ECB statement and Draghi’s press conference.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “has stalled at the 1.3820/50 band as expected. While capped here, the market will remain directly offered… Rallies are expected to hold below 1.3884/1.3920 and only above here would suggest another run up to 1.3948/58”.
Emmanuel Ng, Strategist at OCBC Bank, assessed “Markets may continue to err on the downside for the EUR-USD ahead of the ECB meeting later today with the central bank not expected by the market to budge in terms of further monetary easing. In the interim, 1.3830 should cap while 1.3720 may provide a cushion on dips”.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “has stalled at the 1.3820/50 band as expected. While capped here, the market will remain directly offered… Rallies are expected to hold below 1.3884/1.3920 and only above here would suggest another run up to 1.3948/58”.
Emmanuel Ng, Strategist at OCBC Bank, assessed “Markets may continue to err on the downside for the EUR-USD ahead of the ECB meeting later today with the central bank not expected by the market to budge in terms of further monetary easing. In the interim, 1.3830 should cap while 1.3720 may provide a cushion on dips”.