In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s upside momentum could be running out of steam. Key Quotes “EUR/USD charted a minor new high of 1.1465 which was not confirmed by the daily RSI. This suggests a loss of upside momentum at the September and October highs at 1.1460/95 and ahead of the 1.1577 pivot line – we look for signs of further failure”. “We would allow for slippage towards the 1.1144 24th March low. Key nearby support lies the 1.1060/58 December high and the March 16 low. This guards the bottom of the range at 1.0908”. For more information, read our latest forex news.