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1 Jul 2014
More sustained strength for EUR/USD going forward - TDS
FXStreet (Bali) - According to the FX Team at TD Securities, technical studies suggest more sustained—strength in the EUR moving forward, after the pair managed to clear the 1.3650 area.
Key Quotes
"We have to concede that a sustained rise through the raft of resistance point (1.3650/00) would suggest more—and more sustained—strength in the EUR moving forward."
"Price action may well be affected by thin conditions but and the risk of more volatility through the remainder of the holiday-shortened week suggests that it would be wrong to dismiss the risk of a return to the 1.3750/1.38 area if the EUR can maintain its current gains through the close of the week. We spot key medium-term support in the 1.3510/20 area now. Weakness below here should see EUR losses pick up more materially."
Key Quotes
"We have to concede that a sustained rise through the raft of resistance point (1.3650/00) would suggest more—and more sustained—strength in the EUR moving forward."
"Price action may well be affected by thin conditions but and the risk of more volatility through the remainder of the holiday-shortened week suggests that it would be wrong to dismiss the risk of a return to the 1.3750/1.38 area if the EUR can maintain its current gains through the close of the week. We spot key medium-term support in the 1.3510/20 area now. Weakness below here should see EUR losses pick up more materially."