2 Jul 2014
EUR/USD: Upside limited ahead of ECB
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, shares his view on the EUR/USD, noting that faint apprehension towards ECB discomfort towards the EUR may temper excessive upside.
Key Quotes
"EUR-USD may in the near term attempt to cling to its 200-day MA (1.3676) with the 55-day MA (1.3697) seen as an initial cap. While positive risk appetite levels may lend underlying support to the pair, faint apprehension towards ECB discomfort towards the EUR may temper excessive upside into the ECB meeting later this week. On the downside, support is seen towards 1.3650."
Key Quotes
"EUR-USD may in the near term attempt to cling to its 200-day MA (1.3676) with the 55-day MA (1.3697) seen as an initial cap. While positive risk appetite levels may lend underlying support to the pair, faint apprehension towards ECB discomfort towards the EUR may temper excessive upside into the ECB meeting later this week. On the downside, support is seen towards 1.3650."