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

FXStreet (Edinburgh) - EUR/USD is now coming back from the proximity of the 1.2500 handle on Wednesday, following the choppiness prevailing in the broader markets.

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “EUR/USD no change, my charts continue to suggest we pause near term – the recent new low has not been confirmed by the daily or weekly RSI. This continues to suggest a near term corrective phase”.

In addition, FX Strategist at OCBC Bank, suggested “With the majors receiving some respite from the dollar, the EUR-USD may abstain from the 1.2400 floor in the near term although 1.2600 may cap into the end of the week”.

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