EUR/USD set to challenge the 1.1240 December peak – Commerzbank
|Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, agrees with FXStreet’s analyst Yohay Elam as both see the EUR/USD pair testing the 1.1240 level.
Key quotes of Commerzbank
“EUR/USD remains bid and looks set to challenge the 1.1240 December peak; our initial target remains the 200-week ma at 1.1333. This is the break point for the 1.1495 March peak.”
“Dips back from here should find initial support at the 1.1019 May high and the 200-day ma at 1.1012. Below the 200-day ma dips should find initial support at 1.0941 ahead of the short-term uptrend at 1.0826. Provided this holds, an upside bias remains entrenched.”
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.