EUR/USD forecast: it’s all about Payrolls – Dansk Bank and UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    EUR/USD remains in the upper-1.1300s during the European morning, easing some pips from yesterday’s multi-month tops above the 1.1400 handle.

    The research team at UOB Group has suggested “The break above the major 1.1375 resistance bodes well for EUR. We have been reluctant in turning bullish but a daily close above 1.1400 would be a strong indication that EUR is ready to move towards and possibly beyond last October’s high of 1.1495. Overall, this pair is expected to remain underpinned unless there is a move back below 1.1270”.

    In addition, Senior Analyst at Danske Bank Jens Pedersen noted “In our view the move higher in EUR/USD illustrates that the cross is increasingly giving into fading policy divergence in terms of ECB versus Fed; partly a result of the Fed now to a much larger extent internalising external developments into its reaction function”.
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