FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, has emphasized the relevance of today’s close. Key Quotes “EUR/USD has accelerated higher following its break of the 2014-2016 downtrend, the 55 week ma at 1.1040 and the 200 day ma at 1.1056”. “We are approaching the 1.1260 61.8% retracement of the move down from August and the 1.1296 23.6% retracement of the move down from 2014”. “The weekly close today will be important – a close above here will force us to neutralise our long term bear trend”. For more information, read our latest forex news.