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14 Aug 2013
Flash: EUR/USD fall to 1.3100 likely in coming weeks – TD Securities
FXstreet.com (New York) - For today, there is not much in terms of data out of the US, but we will see some comments from Fed President Bullard this afternoon, and considering the engaged US focus right now, that has the best potential for some currency reaction, notes the TD Securities Team.
Key quotes
“All things considering, as long as he leaves the September taper theme still intact, the bigger risk still appears to be more USD strength. Considering how low GBPUSD and EURUSD have been since tapering became an important theme, to us there seems to be quite a bit of room for USD to strengthen over the next few weeks.”
“The EURUSD’s continued slide—running in face of decent Eurozone data lately—is providing a more clear rejection of important long term trend resistance near 1.3350/3400. As long as we don’t see a strong rebound above those levels before the end of the week, a further fall toward 1.31 is looking more likely in the weeks ahead.”
Key quotes
“All things considering, as long as he leaves the September taper theme still intact, the bigger risk still appears to be more USD strength. Considering how low GBPUSD and EURUSD have been since tapering became an important theme, to us there seems to be quite a bit of room for USD to strengthen over the next few weeks.”
“The EURUSD’s continued slide—running in face of decent Eurozone data lately—is providing a more clear rejection of important long term trend resistance near 1.3350/3400. As long as we don’t see a strong rebound above those levels before the end of the week, a further fall toward 1.31 is looking more likely in the weeks ahead.”