EUR/USD could struggle in the mid-1.1000s – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s upside could face strong resistance in the 1.1050/90 band.

    Key Quotes

    EUR/USD has tested, but appears to be stalling at the 200 day moving average circa 1.1047. Between here and 1.1087 (September low) is quite a pivotal area. Ideally this will again provoke failure and we continue to target 1.0560/1.0457 (the December 2015 and March 2015 lows)”.

    “While capped by 1.11, the market will remain directly offered. Above here will neutralise the immediate outlook. We continue to regard the 1.1377 peak as an interim high”.
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