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2 Mar 2015
What’s in store for EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The single currency is marginally lower vs. the greenback on Monday, with EUR/USD hovering over the 1.1180 area.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “towards the end of last week eroded the 1.1262 29th January low. This is negative price action and leaves the market under pressure to start this week, attention is on the 1.1098 recent low”.
In addition, FX Strategist Emmanuel Ng at OCBC Bank, argued, “Expect 1.1100 to look if 1.1200 is breached on a sustained basis with the pair perceived to be at risk to test lower in the near term”.
In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “towards the end of last week eroded the 1.1262 29th January low. This is negative price action and leaves the market under pressure to start this week, attention is on the 1.1098 recent low”.
In addition, FX Strategist Emmanuel Ng at OCBC Bank, argued, “Expect 1.1100 to look if 1.1200 is breached on a sustained basis with the pair perceived to be at risk to test lower in the near term”.