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EUR/USD forecast: higher post-FOMC – Commerzbank and OCBC

FXStreet (Edinburgh) - EUR/USD is hovering over the 1.14 handle on Friday, coming down from Thursday’s tops near 1.1450 in the wake of the FOMC decision.

Karen Jones, Head of FICC Technical Analysis at Commerzbank suggested “EUR/USD no change, remains upside corrective near term but upside probes are expected to remain minor and find initial resistance offered by the 1.1468 May high. Currently we remain unable to rule out gains to the 1.1582/78.6% retracement”.

In addition, Emmanuel Ng, FX Strategist at OCBC Bank, noted “We stay constructive towards upside potential for the EURUSD after the FOMC within 1.350-1.1450. At this juncture, the 200-day MA (1.1223) may prove a hard floor with rate differential developments (including across the majors) arguing for a softer dollar profile in the near term. Upside resistance levels are expected into 1.1470 before 1.1530”.

SNB Review: Significantly overvalued CHF, dovish stance - Nomura

Research Team at Nomura, note that although the SNB acknowledged “a slight depreciation” of CHF, it said the currency was still significantly overvalued and maintained a dovish stance in its yesterday’s policy meet.
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USD/CHF: Swissy takes a breather, back above 0.96

The USD/CHF pair is trading above 0.96 levels today, after having dipped more than 100-pips in the previous session.
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