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10 Apr 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - After yesterday’s deep sell-off, EUR/USD is now looking to find some stabilization in the mid-1.0600s.
Emmanuel Ng, FX Strategist at OCBC Bank, commented “Greek officials are slated to meet with EZ finance ministers on 24 April 2015 and this overhang, coupled with vacillating dollar sentiment, may continue to keep the EUR-USD on a rangy to top heavy posture. The nearest key support is expected towards 1.0600 at this juncture”.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “remains offered near term, the market has failed to overcome the 1.1036/98 resistance area (made up of the March 18 high and the January low) and has broken below the 1.0713 31st March low. We look for a retest of the base of the 30 year channel located at 1.0573 and the 1.0457 March low”.
Emmanuel Ng, FX Strategist at OCBC Bank, commented “Greek officials are slated to meet with EZ finance ministers on 24 April 2015 and this overhang, coupled with vacillating dollar sentiment, may continue to keep the EUR-USD on a rangy to top heavy posture. The nearest key support is expected towards 1.0600 at this juncture”.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair “remains offered near term, the market has failed to overcome the 1.1036/98 resistance area (made up of the March 18 high and the January low) and has broken below the 1.0713 31st March low. We look for a retest of the base of the 30 year channel located at 1.0573 and the 1.0457 March low”.