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23 Oct 2015
EUR/USD risks a break below 1.1100 – OCBC
FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees the possibility of the pair to test the 1.1020 area.
Key Quotes
“Even if the slew of EZ PMIs surprise on the upside today, the EUR may continue to remain in the shade post-Draghi”.
“In addition, the EUR’s funding currency characteristics may continue to strengthen from hereon”.
“In the interim, expect a heavy tone for the EUR-USD to prevail (note short-end riskies have slumped), with the breach of the 200-day MA (1.1124) likely to risk a test of 1.1100 towards 1.1020”.
Key Quotes
“Even if the slew of EZ PMIs surprise on the upside today, the EUR may continue to remain in the shade post-Draghi”.
“In addition, the EUR’s funding currency characteristics may continue to strengthen from hereon”.
“In the interim, expect a heavy tone for the EUR-USD to prevail (note short-end riskies have slumped), with the breach of the 200-day MA (1.1124) likely to risk a test of 1.1100 towards 1.1020”.