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3 Jul 2015
EUR/USD forecast: eyes on the referendum – Commerzbank and OCBC Bank
FXStreet (Edinburgh) - EUR/USD is trading in a very narrow range on Friday, with all the attention turning to Sunday’s Greek referendum.
Karen Jones, Head of FICC Technical Analysis at Commerzbak, suggested “A close below the cloud at 1.0994 is needed to reinforce a negative outlook and trigger losses to the 1.0819 May low and then the 1.0737 3 month uptrend. Above 1.1440 (not favoured) we have dense resistance until 1.1534”.
Furthermore, FX Strategist at OCBC Bank Emmanuel Ng argued “Into the weekend and pending headline risks, expect markets to be wary of testing significantly beyond the 55-day MA (1.1142) with the 100-day MA (1.1043) and the psychological 1.1000 levels expected to attract instead”.
Karen Jones, Head of FICC Technical Analysis at Commerzbak, suggested “A close below the cloud at 1.0994 is needed to reinforce a negative outlook and trigger losses to the 1.0819 May low and then the 1.0737 3 month uptrend. Above 1.1440 (not favoured) we have dense resistance until 1.1534”.
Furthermore, FX Strategist at OCBC Bank Emmanuel Ng argued “Into the weekend and pending headline risks, expect markets to be wary of testing significantly beyond the 55-day MA (1.1142) with the 100-day MA (1.1043) and the psychological 1.1000 levels expected to attract instead”.