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21 May 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and Danske Bank
FXStreet (Edinburgh) - The EUR/USD is back above the 1.3700 handle although the upside seems to be capped around the interim resistance at 1.3730 so far.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “EUR/USD’s outlook is negative and we continue to suspect that intraday rallies will remain capped by 1.3734/40 for further losses… While below 1.3820 there will be no impact on the chart and above here would allow for a deeper retracement to 1.3862 but no more than 1.3920”.
In addition, Senior Analyst Kasper Kirkegaard at Danske Bank, noted “All in all, it seems that EUR/USD has stabilized around the 1.37 level following the repricing of the ECB and since ECB easing expectations are high already, the market needs new indications of what the ECB might do at its June meeting in order to move EUR/USD lower”.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “EUR/USD’s outlook is negative and we continue to suspect that intraday rallies will remain capped by 1.3734/40 for further losses… While below 1.3820 there will be no impact on the chart and above here would allow for a deeper retracement to 1.3862 but no more than 1.3920”.
In addition, Senior Analyst Kasper Kirkegaard at Danske Bank, noted “All in all, it seems that EUR/USD has stabilized around the 1.37 level following the repricing of the ECB and since ECB easing expectations are high already, the market needs new indications of what the ECB might do at its June meeting in order to move EUR/USD lower”.