3 Feb 2014
Flash: EUR/USD may be breaking out - BBH
FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that the euro had been largely confined to a $1.3500-$1.3740 trading range this year, but may be breaking out.
Key Quotes
“It spent the second half of last week below the 100-day moving average (~$1.3600 and rising). The 2-year interest rate differential is at 6-month highs, which should be dollar supportive.”
“The euro finished last week at new lows for the year. The break of $1.35 could signal a move toward $1.33-$1.34 in the days ahead.“
Key Quotes
“It spent the second half of last week below the 100-day moving average (~$1.3600 and rising). The 2-year interest rate differential is at 6-month highs, which should be dollar supportive.”
“The euro finished last week at new lows for the year. The break of $1.35 could signal a move toward $1.33-$1.34 in the days ahead.“