15 Apr 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and BTMU
FXStreet (Edinburgh) - The EUR/USD breached the 1.3800 key support on Tuesday, extending the correction from recent peaks above the 1.3900 handle (April 11th).
“Intraday dips lower are indicated to terminate circa 1.3800 and beyond this we remain unable to rule out another upside stab. Currently we must allow for further strength towards 1.3967 and 1.4000, but that is he maximum we would expect to see prior to failure”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Lee Hardman, Currency Analyst at BTMU, suggested, “The limited euro reaction again highlights that ECB rhetoric is having only a limited impact upon the euro, and it is now the time for policy action from the ECB if it is serious about lifting inflation and lowering the euro ahead”.
“Intraday dips lower are indicated to terminate circa 1.3800 and beyond this we remain unable to rule out another upside stab. Currently we must allow for further strength towards 1.3967 and 1.4000, but that is he maximum we would expect to see prior to failure”, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Lee Hardman, Currency Analyst at BTMU, suggested, “The limited euro reaction again highlights that ECB rhetoric is having only a limited impact upon the euro, and it is now the time for policy action from the ECB if it is serious about lifting inflation and lowering the euro ahead”.