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Forex Flash: EUR/USD unable to hold 1.3100 level - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that EUR/USD enjoyed a brief spell above 1.3100 before retracing to end relatively unchanged on the day.

He feels that In the short term, the pair may remain supported on dips towards the 55-day MA (1.3017), 1.3000, and then at the 200-day MA (1.2985) supports. On the other hand, he notes that the pair may meet initial resistance towards the 1.3160 and 1.3200 levels. Looking to GBP/USD, he sees that the pair slipped below 1.5500 on Tuesday with EUR/GBP also climbing on relative positivity towards EUR. As noted previously, he writes, “The pair has indeed capitulated lower and 1.5430 may be a crucial support area in determining whether the GBP-USD would have further legs to extend higher (we think so) since its recent lows in mid-March 2013.”

Forex: USD/CAD retreats off highs to 1.0048/50

The USD/CAD has eased slightly off the 1.0060 level in a highly muted session for the pair, moving in a consolidation of 21 pips (1.0039 – 1.0060). Indeed, the cross has not been able to break in either direction, devoid of catalysts during European trading. That being said, a recent 10 pip easing has took place off session highs, leaving the pair at 1.0048/50 in these moments.
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Forex Flash: Bund weakness on the horizon – RBS

According to Technical Strategist Dmytro Bondar at RBS, “I was over-optimistic about the market, which failed to recover above the 20-day MA and broke below the 146.00 support, suggesting there would be more weakness in the short term.”
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