EUR/USD focus still on 1.0820 – Commerzbank
|According to Karen Jones, Head of FICC Technical Analysis Research at Commerzbank, the pair remains poised for a test of the 1.0820 area.
Key Quotes
“EUR/USD continues to weigh on the downside but is holding steady ahead of the next support – namely 1.0821 the March low, this was also the May 2015 low and is a short term pivot for the market and we would allow for this to hold the initial test. Below here we target the 1.0682 32 year support line”.
“Intraday rallies likely to now struggle at the previous 1.0912 June and 1.0952 July lows. The market will stay directly offered while below last weeks high at 1.1040. Resistance above here comes in at the 1.1105/23 August, September and October 7 th lows”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.