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4 Mar 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD keeps the negative tone in the lower bound of the recent range around 1.1160, ahead of Services PMIs in the euro area.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested “We continue to view the chart in a negative light and this leaves the market under pressure with attention on the 1.1098 recent low. The market is directly offered below the near term resistance line at 1.1387”.
FX Strategist at OCBC Bank Emmanuel Ng added “With the pair now comfortably below 1.1200, the temptation towards 1.1150 and then 1.1100 may grow if the news flow remains unfavorable towards the common unit”.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested “We continue to view the chart in a negative light and this leaves the market under pressure with attention on the 1.1098 recent low. The market is directly offered below the near term resistance line at 1.1387”.
FX Strategist at OCBC Bank Emmanuel Ng added “With the pair now comfortably below 1.1200, the temptation towards 1.1150 and then 1.1100 may grow if the news flow remains unfavorable towards the common unit”.