Forex Flash: EUR/USD to enter sell-off at 1.3100/40 - Commerzbank

FXstreet.com (Barcelona) - Commerzbank analysts expect the 1.3100 mark and the three month resistance line at 1.3121, the 1.3127 current December high and the 1.3140 October peak to provoke a sell-off back towards the psychological 1.3000 region. “Failure here will probably kick start a slide back to the 1.2880/76 support area”, wrote analyst Axel Rudolph, pointing to key support at 1.2839 (2011-2012 support line). “Failure here should provoke losses to 1.2783, the 200 day moving average and then the November and January lows at 1.2661/24”, Rudolph added.

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