11 Feb 2015
What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The pair is sidelining in the low-1.1300s on Wednesday, waiting for any announcement from the Eurogroup meeting due later.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “The market is consolidating near term. While above minor support at 1.1262 we remain unable to rule out another run up towards the 20 day ma – however we look for it to remain capped there and our bias is negative”.
In addition, FX Strategist at OCBC Bank Emmanuel Ng argued “The EUR-USD may continue to hold within recent ranges pending further Greek headlines today with investors still on the lookout for any indications of a re-financing extension or if the EU reception to any Greek proposals will remain frosty. Initial support is seen at 1.1200 while the topside is expected to be bordered by 1.1500”.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested, “The market is consolidating near term. While above minor support at 1.1262 we remain unable to rule out another run up towards the 20 day ma – however we look for it to remain capped there and our bias is negative”.
In addition, FX Strategist at OCBC Bank Emmanuel Ng argued “The EUR-USD may continue to hold within recent ranges pending further Greek headlines today with investors still on the lookout for any indications of a re-financing extension or if the EU reception to any Greek proposals will remain frosty. Initial support is seen at 1.1200 while the topside is expected to be bordered by 1.1500”.