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11 Mar 2014
Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The selling pressure is now intensifying around the single currency on Tuesday, with the EUR/USD now dipping to test lows post-Payrolls near 1.3850.
According to Axel Rudolph, Senior Analyst at Commerzbank, “For now the market is bid and will remain so while above the 1.3729 short term support line. Support above it comes in between the October peak at 1.3833 and the February high at 1.3826”.
In addition, Emmanuel Ng, Strategist at OCBC Bank, noted “In the interim however, we continue to stay supported on the pair as markets continue to digest their disappointment over the lack of dovish hints from the ECB last week. Expect some consolidative behaviour to persist around the 1.3870/80 neighbourhood with the next upside waypoint expected around 1.3915”.
According to Axel Rudolph, Senior Analyst at Commerzbank, “For now the market is bid and will remain so while above the 1.3729 short term support line. Support above it comes in between the October peak at 1.3833 and the February high at 1.3826”.
In addition, Emmanuel Ng, Strategist at OCBC Bank, noted “In the interim however, we continue to stay supported on the pair as markets continue to digest their disappointment over the lack of dovish hints from the ECB last week. Expect some consolidative behaviour to persist around the 1.3870/80 neighbourhood with the next upside waypoint expected around 1.3915”.