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What’s the sentiment around EUR/USD today? – Commerzbank and OCBC Bank

FXStreet (Edinburgh) -EUR/USD is extending its breakout of 1.2800 the figure on Tuesday, posting weekly highs near 1.2830.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “is upside corrective short term into the 1.2955/1.3100 band, where we would expect the rally to fail. The market remains under pinned short term by a near term support line at 1.2693, and while above here a near term upside bias remains”.

“The pair may remain adrift ahead of the EZ PMIs on Thursday while remaining neutrally anchored around the 1.2800 neighborhood pending further global cues”, observed Emmanuel Ng, FX Strategist at OCBC Bank.

Switzerland Imports (MoM) rose from previous 13560M to 15070M in September

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GBP/USD opened the day at 1.6163, and drifted lower touching 1.6151 in Asia. However, by the European open it returned to 1.6170 area, where it is currently trading.
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