Back
1 Apr 2015
What’s the sentiment around EUR/USD today – OCBC Bank and Commerzbank
FXStreet (Edinburgh) - Positive start of the quarter for EUR/USD so far, recovering the upper end of 1.0700 amidst a softer tone from the greenback.
“After submerging below 1.0800, the pair may remain reluctant towards the upside in the near term, with risks skewed towards 1.0665”, noted Emmanuel Ng, FX Strategist at OCBC Bank.
Axel Rudolph, Senior Technical Analyst at Commerzbank, added the pair “briefly probed the 1.1037/98 resistance area before being rejected by it. It is made up of the March 18 high and the January low. As long as it caps we continue to look for a retest of the base of the 30 year channel located at 1.0573 and the 1.0457 current March low”.
“After submerging below 1.0800, the pair may remain reluctant towards the upside in the near term, with risks skewed towards 1.0665”, noted Emmanuel Ng, FX Strategist at OCBC Bank.
Axel Rudolph, Senior Technical Analyst at Commerzbank, added the pair “briefly probed the 1.1037/98 resistance area before being rejected by it. It is made up of the March 18 high and the January low. As long as it caps we continue to look for a retest of the base of the 30 year channel located at 1.0573 and the 1.0457 current March low”.