FXstreet.com (Barcelona) - Commerzbank analysts maintain their near term (and medium term) negative outlook as long as it stays below 1.2444 (August high), with targets at 1.2042 (July low) and 1.2000 psychological level.
“Immediate downside targets are the one month uptrend channel support line at 1.2268 and the 1.2162/33 zone where the mid-July low and the current August trough can be found”, wrote Commerzbank analyst Axel Rudolph, expecting those areas to be reached soon, while the pair trades below the 55-day MA, at 1.2395.
“Immediate downside targets are the one month uptrend channel support line at 1.2268 and the 1.2162/33 zone where the mid-July low and the current August trough can be found”, wrote Commerzbank analyst Axel Rudolph, expecting those areas to be reached soon, while the pair trades below the 55-day MA, at 1.2395.
