EUR/USD further losses lie below 1.0563 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, expects the pair could attempt a visit to the 1.0352/40 region on a break below the 1.0560 area.
Key Quotes
“EUR/USD continues has eroded the 55 day ma and sits on the base of the cloud at 1.0563. We suspect will need to go below here in order to re-target recent lows at 1.0352/40”.
“The market will remain directly offered below its 20 day ma at 1.0699. Above here lies 1.0820/26, which represents the 50% retracement and the top of the cloud”.
Author

Pablo Piovano
FXStreet
Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.
















