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19 Sep 2013
Flash: FOMC is over. EUR/USD above 1.3500. What’s next? – Commerzbank and UBS
FXstreet.com (Edinburgh) -The EUR/USD was boosted by very dovish announcements from Chief Bernanke on Wednesday, climbing to fresh multi-month highs beyond 1.3500 the figure.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Initial support is the 1.3453 August high above the 1.3373 accelerated uptrend – only a close below here would alleviate immediate upside pressure and signal a slide back to the 1.3241/1.3163 55 and 200 day ma”. The expert also noted that an attempt to ytd highs at 1.3711 should not be ruled out.
The Swiss bank UBS now holds a bullish outlook on the pair. Strategists G.Yu, G.Berry and Syed Mohi-uddin commented that “Further support developed and with bullish conditions in place, there is no major resistance until 1.3711. Support is at 1.3375”.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “Initial support is the 1.3453 August high above the 1.3373 accelerated uptrend – only a close below here would alleviate immediate upside pressure and signal a slide back to the 1.3241/1.3163 55 and 200 day ma”. The expert also noted that an attempt to ytd highs at 1.3711 should not be ruled out.
The Swiss bank UBS now holds a bullish outlook on the pair. Strategists G.Yu, G.Berry and Syed Mohi-uddin commented that “Further support developed and with bullish conditions in place, there is no major resistance until 1.3711. Support is at 1.3375”.