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27 Feb 2014
Flash: EUR/USD has scope for 1.3640, possibly 1.3550 - TDS
FXStreet (Bali) - The market is looking for a stronger sense of direction in EUR/USD, according to Shaun Osborne, Chief FX Strategist at TD Securities.
Key Quotes
"EURUSD’s softness today after a week of aimless range-trading suggests a technically driven sell-off, helped perhaps partially by focus on renewed uncertainties in Ukraine."
"Eurozone inflation and credit data may serve to undercut EUR strength a little more in the next few days as markets search for a stronger sense of direction ahead of the ECB policy meeting (march 6th)."
"Weaker price action at the upper end of the broader range in place since October suggests scope for a more extended slide to 1.3640, possibly 1.3550."
Key Quotes
"EURUSD’s softness today after a week of aimless range-trading suggests a technically driven sell-off, helped perhaps partially by focus on renewed uncertainties in Ukraine."
"Eurozone inflation and credit data may serve to undercut EUR strength a little more in the next few days as markets search for a stronger sense of direction ahead of the ECB policy meeting (march 6th)."
"Weaker price action at the upper end of the broader range in place since October suggests scope for a more extended slide to 1.3640, possibly 1.3550."