EUR/USD: Sparkling above the 1.0763 – Commerzbank
|EUR/USD is seeing embryonic signs of recovery from just above the 1.0763 2000-2020 uptrend. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, analyzes the EUR/USD pair technical outlook.
Key quotes
“The 1.0763 mark is key support and we look for it to hold the downside and provoke reversal.”
“Near term rallies will need to regain 1.0879 (the October low) as an absolute minimum in order to alleviate immediate downside pressure.”
“Resistance can now be seen at 1.0926, the September low, and the November low at 1.0981.”
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