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6 Aug 2014
EUR/USD: Risk remains fir further losses - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, notes of significant risks of EUR/USD becoming unhinged from the 1.340 support, with 1.3450 topside shelter.
Key Quotes
"Despite supportive EZ retail sales numbers, the soggy PMIs continued to keep the EUR under the weather and we think the risk of the pair becoming unhinged from the 1.3400 support remains significant as dovish expectations surrounding the ECB continue to circulate. Meanwhile, 1.3450 should provide topside shelter on any up ticks."
Key Quotes
"Despite supportive EZ retail sales numbers, the soggy PMIs continued to keep the EUR under the weather and we think the risk of the pair becoming unhinged from the 1.3400 support remains significant as dovish expectations surrounding the ECB continue to circulate. Meanwhile, 1.3450 should provide topside shelter on any up ticks."