Flash: Buy EUR/USD dips ahead of German data - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that EUR/USD moved lower on news flow indicating the Greek economy continue to constrict on Monday with GDP numbers out of the EZ (and Germany) also to be closely watched.

Key Quotes

“Our view remains unchanged and upside resistance levels are expected towards the 1.3400, 1.3417, and 1.3450 levels, with supports expected on dips towards 1.3300 and then 1.3260.”

“In the interim, we continue to favor a buy dips stance for the pair ahead of the EZ industrial production and German ZEW later today.”