12 Dec 2013
Flash: EUR/USD to stay supported on dips - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank notes that EUR/USD firmed yesterday following commentary from the ECB’s Coeure which moved the bank away from “spectacular measures”.
Key Quotes
“The EUR/USD managed to end perceptibly firmer on the back of yet tighter risk premiums with the ECB’s Coeure seeing no necessity to deploy “spectacular” measures.”
“Expect the pair to stay supported on dips in the near term barring further contagion from the risk aversion front.”
“Beyond the 1.3800 ceiling, subsequent resistance levels are expected on approach of 1.3835 and 1.3860 while 1.3740 may offer support on dips.”
Key Quotes
“The EUR/USD managed to end perceptibly firmer on the back of yet tighter risk premiums with the ECB’s Coeure seeing no necessity to deploy “spectacular” measures.”
“Expect the pair to stay supported on dips in the near term barring further contagion from the risk aversion front.”
“Beyond the 1.3800 ceiling, subsequent resistance levels are expected on approach of 1.3835 and 1.3860 while 1.3740 may offer support on dips.”