16 Jun 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD is now easing ground from session highs around 1.3550 while market participants expect the release of the EMU’s inflation figures for the month of May.
“EUR/USD we believe has gone into consolidation mode just ahead of the recent low at 1.3503 and we suspect the market is pausing ahead of this years low at 1.3476 and the 2012-2014 uptrend at 1.3454”, observed Karen Jones, Head of FICC Technical Analysis at Danske Bank.
In addition, FX Strategist Emmanuel Ng at OCBC Bank, commented, “EZ May CPI numbers are due today and investors may continue to attach a heavy bias to the pair in the interim. On the CFTC front, net leveraged EUR shorts (unsurprisingly) jumped in the latest week and we expect the pair to continue to eye the 1.3500 floor before 1.3475”.
“EUR/USD we believe has gone into consolidation mode just ahead of the recent low at 1.3503 and we suspect the market is pausing ahead of this years low at 1.3476 and the 2012-2014 uptrend at 1.3454”, observed Karen Jones, Head of FICC Technical Analysis at Danske Bank.
In addition, FX Strategist Emmanuel Ng at OCBC Bank, commented, “EZ May CPI numbers are due today and investors may continue to attach a heavy bias to the pair in the interim. On the CFTC front, net leveraged EUR shorts (unsurprisingly) jumped in the latest week and we expect the pair to continue to eye the 1.3500 floor before 1.3475”.