7 Sep 2015
EUR/USD well supported around 1.1000/30 – BBH
FXStreet (Edinburgh) - Analysts at BBH see pullbacks in the pair to be well contained in the 1.1000/30 band.
Key Quotes
“The euro finished the week with two consecutive closes below the 20-day moving average for the first time in a month”.
“The euro's five-day average crossed below the 20-day average”.
“With the week's losses, the euro has completely reversed the gains scored amid the large position unwind spurred by the mini-devaluation by the PBOC”.
“There is a band of support between $1.1000 and $1.1030. Without more clarification of the September FOMC meeting, it may be difficult to sustain a break of this area. On the topside, initial resistance is seen near $1.1180 and $1.1240”.
Key Quotes
“The euro finished the week with two consecutive closes below the 20-day moving average for the first time in a month”.
“The euro's five-day average crossed below the 20-day average”.
“With the week's losses, the euro has completely reversed the gains scored amid the large position unwind spurred by the mini-devaluation by the PBOC”.
“There is a band of support between $1.1000 and $1.1030. Without more clarification of the September FOMC meeting, it may be difficult to sustain a break of this area. On the topside, initial resistance is seen near $1.1180 and $1.1240”.