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10 Sep 2013
Flash: EUR/USD weighed by politics as GBP/USD biased higher - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that upcoming political events may weigh on EUR/USD while GBP/USD remains biased higher in the near term.
Key Quotes
“Despite the broad dollar on the defensive, background caution toward the upcoming German elections and an Italian Senate debate may keep excessive EUR optimism at bay in the near term.”
“In the near term, 1.3300 may cap while little of consequence is expected till the 55-day MA (1.3193).”
“The GBP/USD may still remain biased higher in the near term given the weakened state of the broad dollar.”
“Watch UK labor market numbers on Wed for domestic influences) with initial resistance levels
expected towards the 1.5730-1.5780 neighborhood while key support is expected towards the 200-day MA (1.5492).”
Key Quotes
“Despite the broad dollar on the defensive, background caution toward the upcoming German elections and an Italian Senate debate may keep excessive EUR optimism at bay in the near term.”
“In the near term, 1.3300 may cap while little of consequence is expected till the 55-day MA (1.3193).”
“The GBP/USD may still remain biased higher in the near term given the weakened state of the broad dollar.”
“Watch UK labor market numbers on Wed for domestic influences) with initial resistance levels
expected towards the 1.5730-1.5780 neighborhood while key support is expected towards the 200-day MA (1.5492).”