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18 Apr 2013
Forex Flash: EUR/USD to remain pensive ahead of macroeconomic developments - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank believes that EUR/USD may remain somewhat pensive in the near term on the back of the darkening perception of macroeconomic prospects in the near term.
He sees that having dipped below the 55-day MA (1.3109), look towards the next junction at the 200-day MA (1.2926), while 1.3200 should cap for now. Looking to GBP/USD, he notes that disappointing February labor market numbers contributed to the pairs heaviness on Wednesday with the BOE minutes also a nonevent. Going ahead, a sustained break below the 1.5230 area may precipitate a down move towards the 1.5100 neighborhood.
He sees that having dipped below the 55-day MA (1.3109), look towards the next junction at the 200-day MA (1.2926), while 1.3200 should cap for now. Looking to GBP/USD, he notes that disappointing February labor market numbers contributed to the pairs heaviness on Wednesday with the BOE minutes also a nonevent. Going ahead, a sustained break below the 1.5230 area may precipitate a down move towards the 1.5100 neighborhood.