Back
20 May 2014
What’s the sentiment around the EUR/USD today? – Commerzbank and RBS
FXStreet (Edinburgh) - The EUR/USD is now looking to recover the ground lost on its way to test lows near 1.3680 on Tuesday, with the interim ley level at 1.3700 the figure.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Our overall negative view for EUR/USD is entrenched, we suspect intraday rallies will remain capped by 1.3734/40 for further losses. We should then see the currency pair should slide back towards the 200 day moving average at 1.3630 and then the 1.3476 2014 low en route to the 2012-2014 uptrend at 1.3397”.
In addition, Greg Gibbs, FX Trading Strategist at RBS, suggested, “EUR dipped briefly to its lows since Feb around the time of the jump in periphery bond yields on Thursday, but it bounced quickly back into its range. As such, with the concerns around the European Parliamentary elections and periphery spreads that remain near the recent highs, there is a risk that EUR falls somewhat to reflect these wider spreads”.
In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Our overall negative view for EUR/USD is entrenched, we suspect intraday rallies will remain capped by 1.3734/40 for further losses. We should then see the currency pair should slide back towards the 200 day moving average at 1.3630 and then the 1.3476 2014 low en route to the 2012-2014 uptrend at 1.3397”.
In addition, Greg Gibbs, FX Trading Strategist at RBS, suggested, “EUR dipped briefly to its lows since Feb around the time of the jump in periphery bond yields on Thursday, but it bounced quickly back into its range. As such, with the concerns around the European Parliamentary elections and periphery spreads that remain near the recent highs, there is a risk that EUR falls somewhat to reflect these wider spreads”.