7 May 2015
What’s the sentiment around EUR/USD today? – OCBC Bank and Commerzbank
FXStreet (Edinburgh) - EUR/USD manages to remain in the upper bound of the range near 1.1350 so far, ahead of US Payrolls tomorrow.
“We stay with a supported stance for the pair with the 100-day MA (1.1250) expected to support if 1.1300 is tested while the next upside waypoint at 1.1400 remains visible”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted “A close above the 1.1264 level introduces scope for a deeper upward retracement to the key resistance of the 1.1513/34 February high and 50% retracement. Support at 1.1052 guards the 1.0914 55 day ma. A drop below here is needed to focus attention on the downside”.
“We stay with a supported stance for the pair with the 100-day MA (1.1250) expected to support if 1.1300 is tested while the next upside waypoint at 1.1400 remains visible”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted “A close above the 1.1264 level introduces scope for a deeper upward retracement to the key resistance of the 1.1513/34 February high and 50% retracement. Support at 1.1052 guards the 1.0914 55 day ma. A drop below here is needed to focus attention on the downside”.