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14 Jun 2013
Flash: What can we expect of the EUR/USD? – Commerzbank and Danske Bank
FXstreet.com (Edinburgh) - The EUR/USD is retreating for the second consecutive session on Friday, gyrating around 1.3330 after yesterday’s tops in the vicinity of 1.3400 the figure. Despite today’s correction, the euro keeps the weekly gains if we consider Monday’s lows around 1.3170.
In the opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, “Should 1.3404 be bettered, however, an extension to 1.3454/57, the 200 week ma and the 2011-2013 resistance line, may unfold. We look for this to hold and provoke failure. It is considered key resistance”.
“Over the past couple of weeks EUR/USD has been well supported by euro money market rates. Hence, we will keep a very close eye on the LTRO repayment announcement that could be decisive for the euro today”, suggested Lars Christensen, Chief Analyst at Danske Bank.
In the opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, “Should 1.3404 be bettered, however, an extension to 1.3454/57, the 200 week ma and the 2011-2013 resistance line, may unfold. We look for this to hold and provoke failure. It is considered key resistance”.
“Over the past couple of weeks EUR/USD has been well supported by euro money market rates. Hence, we will keep a very close eye on the LTRO repayment announcement that could be decisive for the euro today”, suggested Lars Christensen, Chief Analyst at Danske Bank.