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What lies ahead of the EUR/USD? – OCBC Bank and Commerzbank

FXStreet (Edinburgh) - The EUR/USD is putting the critical support at 1.3300 to the test on Wednesday, following a growing mood towards the risk aversion.

Key Quotes

“Our view remains unchanged at this juncture with the next support expected towards 1.3265 if 1.3300 is violated. In the interim, 1.3450 may also continue to provide a good cap. In the coming sessions, any hawkish hints out of the Fed are likely to be juxtaposed against the ECB’s ongoing dovishness and this may continue to weigh on the pair”, noted Emmanuel Ng, FX Strategist at OCBC Bank.

Axel Rudolph, Senior Technical Analysis at Commerzbank, added, “EUR/USD slipped through the 1.3336/33 support zone, a daily close below which has triggered further losses to the 1.3295 November 2013 low en route to the 1.3105 September low”.

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