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EUR/USD remains supported at 1.1171 – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng noted the pair remains well supported in the 1.1170 area for the time being.

Key Quotes

“Disappointing Aug German factory orders (-1.8% mom) failed to deter broad dollar bearishness on Tuesday and the EUR-USD may attempt to garner further upside traction in the near term”.

“Note the ECB’s Liikanen discouraging expectations of a tweak to the ECB’s QE program. Look towards 1.1330 while an interim floor is expected on dips towards the 55-day MA (1.1171)”.

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