15 Apr 2014
EUR/USD remains supported at 1.3780 - BBH
FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, said the 1.3780 support remains intact so far.
Key Quotes
"For its part, the euro is a bit lethargic. It traded below $1.3800 in the European morning, but support we identified near $1.3780 remains intact."
"Intra-day technical readings warn of a recovery, but without fresh incentives, the $1.3820-30 area could limit the recovery".
"The main economic news was in the form of the German ZEW survey, which was consistent with recent surveys that points to a constructive assessment of the status quo but fear that this is the best it gets and this is reflected in weaker expectation components of the surveys."
Key Quotes
"For its part, the euro is a bit lethargic. It traded below $1.3800 in the European morning, but support we identified near $1.3780 remains intact."
"Intra-day technical readings warn of a recovery, but without fresh incentives, the $1.3820-30 area could limit the recovery".
"The main economic news was in the form of the German ZEW survey, which was consistent with recent surveys that points to a constructive assessment of the status quo but fear that this is the best it gets and this is reflected in weaker expectation components of the surveys."