11 Apr 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and Scotiabank
FXStreet (Edinburgh) - The EUR/USD remains trading in the upper 1.3800s on Friday, closing the first week with gains after three consecutive weekly declines.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Intraday dips should remain well supported circa 1.3850/20. Key support is the 9 month support line at 1.3696 and the end of February low at 1.3643”.
In addition, Camilla Sutton, Chief FX Strategist at Scotiabank, observed, “Leading into the Fed decision on March 19th, EUR was trading at 1.3934 and is now less than 100 pips away. We expect a near term test of this level followed by 1.40 on flows, fed policy as well as the reluctance by the ECB to act even as disinflationary pressures continue”.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Intraday dips should remain well supported circa 1.3850/20. Key support is the 9 month support line at 1.3696 and the end of February low at 1.3643”.
In addition, Camilla Sutton, Chief FX Strategist at Scotiabank, observed, “Leading into the Fed decision on March 19th, EUR was trading at 1.3934 and is now less than 100 pips away. We expect a near term test of this level followed by 1.40 on flows, fed policy as well as the reluctance by the ECB to act even as disinflationary pressures continue”.