EUR/USD: Break above 1.3650 may neutralize heavy bias - OCBC

FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, shares his view on the EUR/USD, noting that 1.3650 needs to be re-taken to ease the selling pressure.

Key Quotes

"German June Ifo numbers are scheduled for release later today and the EUR-USD may continue to mark time in the 1.3600 neighborhood in the interim . As noted yesterday, a sustained break above the 1.3600-1.3650 neighborhood may neutralize our inherent heavy bias for the pair. On a more structural note, the pair’s eventual direction is expected to be determined by the tussle between ECB-inspired dovishness and prevailing broad based USD vulnerability."