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

FXStreet (Edinburgh) - The single currency is losing some of its shine on Monday, dragging EUR/USD from overnight peaks beyond 1.2710 to the current 1.2690/85 band.

Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued the pair “held the initial test of the 1.2605 support last week and has seen a minor rebound. This has been enough to neutralise the intraday indicators and we suspect some further near term ranging will be seen”.

“In the near term, any ability to float above 1.2700 may open the way to 1.2760, while 1.2630 should support on near term dips”, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

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