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

FXStreet (Edinburgh) - EUR/USD managed to retake the 1.2500 mark on Thursday, although remains vulnerable in light of the ECB meeting due later.

In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair “came under pressure yesterday and we continue to wait for a close below the 1.2460/78.6% retracement support to confirm that the next leg lower is underway”.

Furthermore, FX Strategist Emmanuel Ng at OCBC Bank added “if the pair becomes unhinged from the 1.2500 level on a sustained basis, 1.2400 and then 1.2350 may continue to beckon in the near term”.

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