EUR-USD may remain hesitant on the upside - OCBC

FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, notes that the EUR-USD may remain hesitant on the upside with an interim cap expected at 1.3455.

Key Quotes

"EUR prospects may continue to be dictated by a huge plateful of EZ data points this week (GDP numbers on Thursday) and headline risks are expected to be fairly significant. As such, the EUR-USD may remain hesitant on the upside with an interim cap expected at 1.3455 while 1.3300/30 may remain within reach pending news developments. On the CFTC front, note that net leveraged EUR shorts deepened further in the latest week to near stretched levels."