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9 Sep 2013
Flash: EUR/USD capped by MA and 1.3200? - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank feels that EUR/USD may be capped in the near term with double resistance ahead.
Key Quotes
“Despite the disappointing US labor market numbers, the topside resistance levels at the 55-day MA (1.3189) and then at 1.3200 may prove instrumental in determining near term directionality for the EUR/USD.”
“On the CFTC front, net speculative EUR longs dipped in the latest week but a concerted breakout past these two key levels may be required to neutralize the somewhat heavy tone for the pair.”
Key Quotes
“Despite the disappointing US labor market numbers, the topside resistance levels at the 55-day MA (1.3189) and then at 1.3200 may prove instrumental in determining near term directionality for the EUR/USD.”
“On the CFTC front, net speculative EUR longs dipped in the latest week but a concerted breakout past these two key levels may be required to neutralize the somewhat heavy tone for the pair.”