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12 Jun 2013
Flash: EUR/USD rise may falter in the 1.3300 region – ANZ
FXstreet.com (New York) - Much has been made of a Head and Shoulders pattern occurring in the EUR/USD, however this has mostly been conjecture.
According to Tim Riddell, Head of Global Markets Research at ANZ, “The current push above 1.3250 may raise concern over an extension towards 1.3475-1.3500, however the overall pattern remains the same. A broad range is being defined with the bias being that the squeeze may falter in the 1.3300’s.” An extension should merely define a 1.25-1.35 range. Moreover, dips below 1.3115 would signal that the range has been defined.
According to Tim Riddell, Head of Global Markets Research at ANZ, “The current push above 1.3250 may raise concern over an extension towards 1.3475-1.3500, however the overall pattern remains the same. A broad range is being defined with the bias being that the squeeze may falter in the 1.3300’s.” An extension should merely define a 1.25-1.35 range. Moreover, dips below 1.3115 would signal that the range has been defined.