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29 Oct 2014
EUR/USD may continue to bounce on dips - OCBC Bank
FXStreet (Łódź) - Emmanuel Ng, FX Strategist at OCBC Bank suggests that EUR/USD is rising due to the recent weakening of the greenback.
Key Quotes
"We note that recent moves higher in the pair have been more a result of a capitulating dollar as opposed to brighter EZ prospects."
"Nonetheless, with market skepticism towards any strong positive surprises out of the FOMC tonight, the EUR/USD may continue to bounce on dips in the intervening period with 1.2785/00 seen as a first resistance zone."
Key Quotes
"We note that recent moves higher in the pair have been more a result of a capitulating dollar as opposed to brighter EZ prospects."
"Nonetheless, with market skepticism towards any strong positive surprises out of the FOMC tonight, the EUR/USD may continue to bounce on dips in the intervening period with 1.2785/00 seen as a first resistance zone."