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18 Feb 2013
Forex Flash: EUR/USD find support at EZ grits teeth - OCBC Bank
Emmanuel Ng of OCBC Bank notes that while the Eurozone economy is not expected to dramatically outperform any time soon, he feels that the lack of official discomfort towards its elevated levels may find the pair finding partial support.
Nevertheless, he feels that the pair may remain in danger of testing the 55-day MA (1.3272) if the 1.3300 support caves in the near term. He writes, “Note that on the positioning front, net speculative CFTC EUR longs were also pared in the latest week.”
Nevertheless, he feels that the pair may remain in danger of testing the 55-day MA (1.3272) if the 1.3300 support caves in the near term. He writes, “Note that on the positioning front, net speculative CFTC EUR longs were also pared in the latest week.”