What’s the sentiment around EUR/USD today?

FXStreet (Edinburgh) - After being rejected in the area of 1.1040, EUR/USD came all the way down to the proximity of 1.0800 the figure on Tuesday, where buying interest is now pushing it to the mid-1.08s ahead of the FOMC minutes.

“With shorter-end yield differentials moving in favor of the USD overnight and amid ongoing Greek concerns, expect the pair to remain trapped (if not slightly top heavy) in the recent 1.0800-1.1000 range”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

In addition, Senior Technical Analyst at Commerzbank Axel Rudolph noted “Should an unexpected daily chart close above the 1.1098 level be made, we would change our view to a short term bullish one and neutralise our medium term outlook”.