EUR/USD gains appear capped near 1.07 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees occasional bullish attempts to falter around the 1.07 handle.

Key Quotes

“Despite cautionary comments from the Fed’s Evans overnight, EUR-USD retracements higher may continue to be tame heading into the ECB meeting tomorrow”.

“The near term preference remains unchanged and the pair may remain heavy (note the volatility surface remains nervous in the short term) with imminent risks towards 1.0400 still a potential prospect while 1.0700 may continue to cap initial upticks”.