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EUR/USD: 2-way trades are likely – OCBC

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Euro (EUR) continued to trade subdued. Pair was last at 1.16 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Euro (EUR) continued to trade subdued. Pair was last at 1.16 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Daily momentum is not showing a clear bias

"Daily momentum and RSI indicators are not showing a clear bias for now. 2-way trades likely. Support here at 1.1630/40 levels (21, 50 DMAs) and 1.1570 levels. Resistance at 1.1730, 1.18 levels. We look for recent range in 1.1580 – 1.1700 to hold. EUR’s directional bias in the near term is largely dependent on USD."

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    Name / Symbol
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    GBPUSD
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    EURUSD
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    USDJPY
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