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14 May 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD keeps the buoyant tone today, gearing up for an assault to the 1.1400 handle.
“The EUR managed to shrug off softer than expected 1Q German GDP readings on Wednesday with broader EZ readings falling in line with prior expectations. The ECB’s Draghi is scheduled to speak later in the day and the EUR-USD may eye the 1.1400 ceiling in the interim”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted “Risks are building for a break above 1.1392 and this will allow for a deeper upward retracement to the key resistance of the 1.1513/34 February high and 50% retracement”.
“The EUR managed to shrug off softer than expected 1Q German GDP readings on Wednesday with broader EZ readings falling in line with prior expectations. The ECB’s Draghi is scheduled to speak later in the day and the EUR-USD may eye the 1.1400 ceiling in the interim”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted “Risks are building for a break above 1.1392 and this will allow for a deeper upward retracement to the key resistance of the 1.1513/34 February high and 50% retracement”.