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EUR/USD : May make another attempt towards 1.2400 support

FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank sees the EUR/USD heading towards 1.2350 if it breaks the 1.2400 support.

Key Quotes

"Given the dim view of the German economy from the Ifo (which indicated that the economy may be on the brink of recession on the back of weak demand from major trading partners) and with the EUR-USD staging a sustained break below 1.2500 in the past week, the pair may make another attempt at the short-term 1.2400 support towards 1.2350."

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