FXstreet.com (Barcelona) - Uncertainty in the markets regarding the prospects for ECB’s bond buying plan isn’t helping the EUR/USD chart, but TD Securities analysts say the market is “re-re-revising” its enthusiasm for the Euro as the Central Bank really wants to buy Spanish bonds, as long as Spain requests external support, with the downside that Madrid refuses to do so if there are more conditions attached.
“With levels above 1.2400 looking too rich for investors without more clarity on peripheral prospects, EUR/USD may be at risk of easing back a little more”, wrote TD Securities analysts, projecting resistance at 1.2445 (61.8% retracement of the1.27/1.20 drop) and support at 1.2250 if the pair loses the 1.2343 handle.
“With levels above 1.2400 looking too rich for investors without more clarity on peripheral prospects, EUR/USD may be at risk of easing back a little more”, wrote TD Securities analysts, projecting resistance at 1.2445 (61.8% retracement of the1.27/1.20 drop) and support at 1.2250 if the pair loses the 1.2343 handle.
