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19 Mar 2014
Flash: EUR for 1.40 post FOMC? - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the euro has traded above the $1.39 level on an intra-day basis for the sixth consecutive session.
Key Quotes
"While many are looking for a push above $1.40, a failure to do so today after the FOMC meeting could be frustrating for the bulls”.
“But to really inflict any pain, the euro has to be pushed through the $1.3840 near-term base built and, probably, through the $1.3800 level that marks the top of the previous 5-cent 5-month trading range".”
Key Quotes
"While many are looking for a push above $1.40, a failure to do so today after the FOMC meeting could be frustrating for the bulls”.
“But to really inflict any pain, the euro has to be pushed through the $1.3840 near-term base built and, probably, through the $1.3800 level that marks the top of the previous 5-cent 5-month trading range".”