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EUR/USD upside needs to clear 1.1300/50 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, argued spot need to surpass the 1.1300/50 band in order to intensify the upside.

Key Quotes

“Improved risk sentiment and slightly less encouraging EZ data flow in the last two sessions may put a lid on the EUR-USD but broad dollar weakness may still remain the overarching theme”.

“As such, expect supports at 1.1200, the 55-day MA (1.1176) and the 200-day MA (1.1151). On the top side, the pair would have to clear 1.1300/50 to make any meaningful impact on the upside”.

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