Forex Flash: EUR/USD targets 1.2661 current November low – Commerzbank

FXstreet.com (Barcelona) - The 1.2800 mark and the 200-day moving average at 1.2808 killed the EUR/USD bounce last week and Commerzbank analyst are now expecting the pair to drop again, with the 1.2661 current November low as first target. “Failure here will push the symmetrical triangle downside measured target at 1.2483 to the fore”, wrote analyst Axel Rudolph, pointing to initial support at 1.2607 (50% retracement) and resistances at 1.2865/95 (short term downtrend and 55 day moving average).

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