28 Nov 2014
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The demand for EUR/USD remains subdued at the end of the week, currently testing the lower end of the intraday range near 1.2440.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “is capped near term by the 1.2518 3 month downtrend, this still leaves the immediate focus on the downside. Below 1.2358 the recent low, our target remains its 200 month moving average at 1.2224”.
“Look towards the EZ inflation readings later today (1000 GMT) for immediate cues with the pair likely to be heavy within 1.2400-1.2500 in the interim”.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair “is capped near term by the 1.2518 3 month downtrend, this still leaves the immediate focus on the downside. Below 1.2358 the recent low, our target remains its 200 month moving average at 1.2224”.
“Look towards the EZ inflation readings later today (1000 GMT) for immediate cues with the pair likely to be heavy within 1.2400-1.2500 in the interim”.