14 Apr 2014
EUR/USD upside limited this week - BBH
FXStreet (Bali) - According to Marc Chandler, Global Head of Currency Strategy at BBH, EUR/USD upside should be limited this week.
Key Quotes
After the ECB meeting and the US employment report in the first week in April, the euro had probed the bottom of its Bollinger Band and finished last week near the upper band ($1.3935).
Given the psychological importance of the $1.40 area, and what will be a long holiday weekend for many, we suspect the short-term participants will shy away from pushing the euro much higher in the days ahead. Support is likely to be found in the $1.3780-$1.3800 initially.
Key Quotes
After the ECB meeting and the US employment report in the first week in April, the euro had probed the bottom of its Bollinger Band and finished last week near the upper band ($1.3935).
Given the psychological importance of the $1.40 area, and what will be a long holiday weekend for many, we suspect the short-term participants will shy away from pushing the euro much higher in the days ahead. Support is likely to be found in the $1.3780-$1.3800 initially.