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EUR/USD: 1.1144 still on the cards – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair could re-test the 1.1140 area.

    Key Quotes

    EUR/USD recently charted a minor new high of 1.1465 which was not confirmed by the daily RSI earlier this week”.

    “This loss of momentum at tough resistance has provoked a sharp sell off and we would allow for slippage towards the 1.1144 24th March low. Key nearby support lies at the 1.1060/58 December high and the March 16 low”.

    “This guards 2016 support line at 1.0934. Intraday rallies are indicated to terminate circa 1.1310. Nearby resistance is 1.1460/95 (mid October high). Resistance at 1.1577 is considered the last defense for the 1.1713 September high”.
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