20 Jun 2014
EUR/USD seen at 1.3000 at the year-end - Scotiabank
FXStreet (Córdoba) - Camilla Sutton, analyst at Scotiabank commented that even though in the short-term the EUR/USD is expected to trade within its recent range, she expects the euro to soften, closing the year at 1.3000.
Key Quotes
“EUR was soft falling back below 1.3600 on a relatively quiet session. EUR/JPY had a notably quiet session but is flirting with an upside break of its 200‐day moving average at 138.93. Fundamental data was limited but did include a widening in the Eurozone current account surplus to 21.5bn and a softening in PPI in Germany”.
“In the near‐term EUR is likely to be comfortable trading within its recent 1.3503 to 1.3690 range. In the medium term we expect EUR to soften, closing the year at 1.30”.
“EUR/USD short‐term technicals: mixed—suggesting that EUR is vulnerable to range trading in the near‐term”.
Key Quotes
“EUR was soft falling back below 1.3600 on a relatively quiet session. EUR/JPY had a notably quiet session but is flirting with an upside break of its 200‐day moving average at 138.93. Fundamental data was limited but did include a widening in the Eurozone current account surplus to 21.5bn and a softening in PPI in Germany”.
“In the near‐term EUR is likely to be comfortable trading within its recent 1.3503 to 1.3690 range. In the medium term we expect EUR to soften, closing the year at 1.30”.
“EUR/USD short‐term technicals: mixed—suggesting that EUR is vulnerable to range trading in the near‐term”.