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15 Jan 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The single currency remains in sub-1.1800 levels on Thursday, with EUR/USD trading in the lower bound of the range, reflecting a renewed pick up in the demand for the greenback.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented, “the new low has not been confirmed by the daily RSI, last weeks high was 1.1871 and while capped here, the near term risks remain on the downside”.
In addition, FX Strategist Emmanuel Ng at OCBC Bank suggested “Look towards data risks today from EZ November trade numbers and German 2014 GDP readings and we stay negative on the pair while continuing to eye the 1.1640 floor”.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented, “the new low has not been confirmed by the daily RSI, last weeks high was 1.1871 and while capped here, the near term risks remain on the downside”.
In addition, FX Strategist Emmanuel Ng at OCBC Bank suggested “Look towards data risks today from EZ November trade numbers and German 2014 GDP readings and we stay negative on the pair while continuing to eye the 1.1640 floor”.