EUR/USD to retest the 1.1450 level – OCBC

EUR/USD continued its march northwards, breaching the 1.1420 resistance before retracing at 1.1450. The pair is trading now just above the 1.14 level but Terence Wu from OCBC Bank expects a retest of the 1.1450 mark.

Key quotes

“Technical picture is bullish, but we keep one eye on the event risk over the weekend, and also at the short-term implied valuations, which have turned south.”

“Expect the EUR/USD pair to re-attempt a breach of 1.1450 before 1.1500, while the immediate support is at 1.1380.”