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14 Mar 2013
Forex Flash: EUR/USD susceptible to negative headlines - OCBC Bank
Emmanuel Ng of OCBC Bank notes that with positive sentiment towards the dollar accumulating, the Euro may remain vulnerable to negative headlines in the near term.
He notes that the pair has now dipped tentatively below the 1.3000 area with the next key support expected towards the 200-day MA (1.2868). Looking to GBP/USD he adds that his view remains unchanged and the pound may continue to look towards next week’s budget announcement for further cues while sustained expectations of a dovish BOE may work to keep the GBP under the weather. He adds, “Next key intersection for the cable is expected towards 1.4800 while 1.5000 may also cap in the interim.”
He notes that the pair has now dipped tentatively below the 1.3000 area with the next key support expected towards the 200-day MA (1.2868). Looking to GBP/USD he adds that his view remains unchanged and the pound may continue to look towards next week’s budget announcement for further cues while sustained expectations of a dovish BOE may work to keep the GBP under the weather. He adds, “Next key intersection for the cable is expected towards 1.4800 while 1.5000 may also cap in the interim.”