22 Jan 2014
Flash: EUR/USD keeps holding 1.3525 - BBH
FXstreet.com (Bali) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, presents some worthwhile commentaries in EUR/USD.
Key Quotes
"The euro remains largely confined to the lower end of the ranges seen before the weekend. Recall last Friday, the euro finished below its 100-day moving average, which is found now near $1.3570. It had not closed below that average since September, which itself was the first time since July."
"Since broken, the euro has been unable to resurface above it. On the downside, we note that the $1.3525 area corresponds to retracement objective of the advance from early November's test on $1.33 to the late-December high near $1.39. The euro has not finished the North American session below there ($1.3525), though on an intra-day basis has come closer to $1.35."
Key Quotes
"The euro remains largely confined to the lower end of the ranges seen before the weekend. Recall last Friday, the euro finished below its 100-day moving average, which is found now near $1.3570. It had not closed below that average since September, which itself was the first time since July."
"Since broken, the euro has been unable to resurface above it. On the downside, we note that the $1.3525 area corresponds to retracement objective of the advance from early November's test on $1.33 to the late-December high near $1.39. The euro has not finished the North American session below there ($1.3525), though on an intra-day basis has come closer to $1.35."