Back
3 Dec 2014
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD is trading on a softer tone on Wednesday, printing fresh ytd lows in the area of 1.2340.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is capped near term by the 1.2483 3 month downtrend, it is back under pressure and attention has reverted to the 1.2358 level (recent low), this is now under pressure to give way. Our stance is neutral to slightly negative. Below 1.2358, our target remains its 200 month moving average at 1.2232”.
Emmanuel Ng, FX Strategist at OCBC Bank, “speculation surrounding the ECB meeting tomorrow (investors are looking for Draghi to soften the ground for further easing) will likely keep the common currency heavy”.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is capped near term by the 1.2483 3 month downtrend, it is back under pressure and attention has reverted to the 1.2358 level (recent low), this is now under pressure to give way. Our stance is neutral to slightly negative. Below 1.2358, our target remains its 200 month moving average at 1.2232”.
Emmanuel Ng, FX Strategist at OCBC Bank, “speculation surrounding the ECB meeting tomorrow (investors are looking for Draghi to soften the ground for further easing) will likely keep the common currency heavy”.