FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the door remains open for a test of lower levels. Key Quotes “EUR/USD’s rally higher failed to make much impression on the 55 day ma at 1.0920 and is under pressure”. “Attention remains on support at 1.0819/1.0796 (we have traded through here but have yet to see a close below here)”. “This band of support is quite pivotal, it represents the May low, the July low, the 7th December low and a break down through here is likely to trigger another leg lower to the 1.0523 recent low (favoured)”. “Currently Intraday rallies are indicated to fail circa 1.0870, 1.0960”. For more information, read our latest forex news.