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19 Aug 2013
Flash: EUR/USD support ahead of FOMC – OCBC Bank
FXstreet.com (Athens) - Emmanuel Ng of OCBC Bank notes that he continue to retain a supported posture for the EUR/USD pending the FOMC minutes this week.
Key Quotes
“As long as the broad dollar remains less than fully committed, any potential positive news flow out of the EZ may continue to keep dips in the pair shallow.”
“On the CFTC front, net speculative EUR longs increased in the latest week and first support for the pair is expected towards 1.3300 before 1.3200 while resistance is seen on approach of the 1.3420 zone.”
Key Quotes
“As long as the broad dollar remains less than fully committed, any potential positive news flow out of the EZ may continue to keep dips in the pair shallow.”
“On the CFTC front, net speculative EUR longs increased in the latest week and first support for the pair is expected towards 1.3300 before 1.3200 while resistance is seen on approach of the 1.3420 zone.”