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EUR/USD could test 1.0380 – OCBC

FXStreet (Edinburgh) - According to FX Strategist at OCBC Bank Emmanuel Ng, the pair could see the 1.0380 level tested following today’s ECB gathering.

Key Quotes

“It all boils down to the ECB meeting later today and although the path of least resistance remains for a vulnerable EUR, any disappointment from Draghi may catalyze short-covering instead”.

“Look especially to Draghi’s press conference at 1330 GMT. Our view remains unchanged with imminent risks towards 1.0400 still a potential prospect while 1.0700 may continue to cap initial upticks”.

“We stay short EUR-USD from 1.1050 (27 Oct 15), keeping an eye on our 1.0380 target”.

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