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1 Jul 2014
EUR/USD: Break of 1.37 sets stage for 1.3739 - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, notes any breach above the 55-day MA (1.3700) in EUR/USD sets the stage for the 100-day MA (1.3739) in the near term.
Key Quotes
"EZ June CPI inflation numbers came in largely as expected and did not spark renewed fears of urgent easing by the ECB, permitting the EUR-USD to continue to ascend. With the 200-day MA (1.3675) now serving as a near term support, any breach above the 55-day MA (1.3700) may pave the way to the 100-day MA (1.3739) in short order."
Key Quotes
"EZ June CPI inflation numbers came in largely as expected and did not spark renewed fears of urgent easing by the ECB, permitting the EUR-USD to continue to ascend. With the 200-day MA (1.3675) now serving as a near term support, any breach above the 55-day MA (1.3700) may pave the way to the 100-day MA (1.3739) in short order."