Sidelined in EUR/USD - OCBC

FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, remains sidelined on EUR/USD, still expecting 1.3780 or 1.3850/75 to be broken first to define the next bias on the pair.

Key Quotes

"Not unexpectedly, the ECB’s Draghi reiterated on Thursday that “The exchange rate is an increasingly important factor in our assessment of the outlook for price stability”.

"We continue to stay sidelined with respect to the pair in the interim with the 55-day MA (1.3786) expected to support while 1.3850/75 may buffer any upside tests in the near term."