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13 Sep 2013
Flash: What’s the sentiment around the EUR/USD today? – OCBC Bank and UBS
FXstreet.com (Edinburgh) -The single currency is now back to the 1.3280 region after another failed attempt to break above the critical 1.3300 handle on Friday, as US retail sales loom. The EUR/USD would remain under pressure as a positive surprise could spark further buying interest in the USD, weighing on the pair.
In the opinion of Emmanual Ng, Strategist at OCBC Bank, “We stay neutral on the EUR-USD in the interim with 1.3350 likely to cap on the back of Draghi’s latest remarks while the 55-day MA (1.3209) may continue to provide a useful downside reference point”.
Furthermore, Geoffrey Yu and Gareth Berry, Strategists at UBS, hold the same outlook on the pair, arguing, “Resistance is at 1.3325, a break above which would extend the recent strength to 1.3452. Support is at 1.3215, a decline through which would open the way to the critical 1.3103”.
In the opinion of Emmanual Ng, Strategist at OCBC Bank, “We stay neutral on the EUR-USD in the interim with 1.3350 likely to cap on the back of Draghi’s latest remarks while the 55-day MA (1.3209) may continue to provide a useful downside reference point”.
Furthermore, Geoffrey Yu and Gareth Berry, Strategists at UBS, hold the same outlook on the pair, arguing, “Resistance is at 1.3325, a break above which would extend the recent strength to 1.3452. Support is at 1.3215, a decline through which would open the way to the critical 1.3103”.