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18 Mar 2014
Flash: What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - The EUR/USD is trading in a softer tone during the European morning on Tuesday, retreating from overnight peaks near 1.3940 to the current test of the 1.3915/10 region.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “For now we see minor negative divergence with the daily RSI, though, and our attention is drawn to support offered by last week’s low at 1.3834 and the February high at 1.3826.Key short term support is the 1.3782”.
Emmanuel Ng, Strategist at OCBC Bank, suggested “Softer EZ inflation readings notwithstanding, look towards the march German ZEW for further cues today and the pair may continue to remain supported on dips for as long as the Crimean situation remains under containment. Expect initial resistance around 1.3970 while support may emerge around the 1.39/15 area”.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “For now we see minor negative divergence with the daily RSI, though, and our attention is drawn to support offered by last week’s low at 1.3834 and the February high at 1.3826.Key short term support is the 1.3782”.
Emmanuel Ng, Strategist at OCBC Bank, suggested “Softer EZ inflation readings notwithstanding, look towards the march German ZEW for further cues today and the pair may continue to remain supported on dips for as long as the Crimean situation remains under containment. Expect initial resistance around 1.3970 while support may emerge around the 1.39/15 area”.