29 May 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD continues to trade in multi-month lows, currently consolidating below the 1.3600 handle amidst a prevailing risk-off tone in the markets.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “The RSI is low but not oversold and currently we would allow for further losses to the 1.3476 2014 low en route to the 2012-2014 uptrend at 1.3410. Intraday rallies are indicated to terminate circa 1.3675”.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested “With the 1.3600 floor in imminent danger of being breached on a sustained basis, look towards waypoints at 1.3560 and then 1.3500 in the near term”.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “The RSI is low but not oversold and currently we would allow for further losses to the 1.3476 2014 low en route to the 2012-2014 uptrend at 1.3410. Intraday rallies are indicated to terminate circa 1.3675”.
Emmanuel Ng, FX Strategist at OCBC Bank, suggested “With the 1.3600 floor in imminent danger of being breached on a sustained basis, look towards waypoints at 1.3560 and then 1.3500 in the near term”.