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12 Jun 2013
Flash: EUR/USD holds its own as GBP eyes domestic data - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank feels that EUR/USD will continue to hold its own while GBP is focused on domestic data.
He begins by noting that in the near term, the EUR may continue to hold its own against the dollar pending further US data flow with 1.3200 seen as the nearest support while 1.3310 may cap on upticks. He writes, “In the interim, markets may retain a preference to buy dips.” Further, he sees that GBP may continue to look towards the EUR and domestic data flow for near term cues. He adds, “Barring near term exogenous shocks, the pair may attempt to hold above the 1.5500 within a familiar 1.5000-1.5600 range carved out since mid-March 2013.”
He begins by noting that in the near term, the EUR may continue to hold its own against the dollar pending further US data flow with 1.3200 seen as the nearest support while 1.3310 may cap on upticks. He writes, “In the interim, markets may retain a preference to buy dips.” Further, he sees that GBP may continue to look towards the EUR and domestic data flow for near term cues. He adds, “Barring near term exogenous shocks, the pair may attempt to hold above the 1.5500 within a familiar 1.5000-1.5600 range carved out since mid-March 2013.”