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What lies ahead for the EUR/USD? – Commerzbank and OCBC Bank

FXStreet (Edinburgh) - The EUR/USD is now back to the 1.3180/75 area after hitting fresh intraday peaks above 1.3200 the figure following EMU’s consumer prices.

Emmanuel Ng, FX Strategist at OCBC Bank, commented, “our view remains unchanged and we stay the course with a heavy EUR-USD stance. The next visible support is expected at 1.3150 if the foothold at 1.3200 is lost”.

“Resistance comes in along the breached support line at 1.3267 and around 1.3333/36 with further resistance being seen along the three month downtrend line at 1.3397. While trading below here, downside pressure should be maintained”, observed Axel Rudolph, Senior Technical Analyst at Commerzbank.

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