EUR/USD rallies could struggle around 1.0870/1.0970 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    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”.
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