30 Mar 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD keeps the trade below the 1.0900 handle at the beginning of the week, with market participants focused on the events from Greece and Germany’s CPI.
In the opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair “briefly probed the 1.1037/98 resistance area before being rejected by it. It is made up of the March 18 high and the January low. As long as it caps we continue to look for a retest of the base of the 30 year channel located at 1.0573 and the 1.0457 current March low”.
Emmanuel Ng, FX Strategist at OCBC Bank, added “the pair may remain trapped in recent ranges given the recent failure to stage a meaningful break above 1.1000 while near term support is expected towards 1.0800”.
In the opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair “briefly probed the 1.1037/98 resistance area before being rejected by it. It is made up of the March 18 high and the January low. As long as it caps we continue to look for a retest of the base of the 30 year channel located at 1.0573 and the 1.0457 current March low”.
Emmanuel Ng, FX Strategist at OCBC Bank, added “the pair may remain trapped in recent ranges given the recent failure to stage a meaningful break above 1.1000 while near term support is expected towards 1.0800”.