EUR/USD now looks to 1.0952/12 – Commerzbank

Pablo Piovano FXStreet

According to Karen Jones, Head of FICC Technical Analysis Research at Commerzbank, the pair could now target the 1.0950/12 area.

Key Quotes

“EUR/USD’s rebound has remained tepid and is indicated to terminate circa 1.1065. While capped by the 1.1123 end of August low, we will consider the market as offered. We look for losses to the June and July lows at 1.0952/12. Fridays price action was an outside day to the downside and we do not think these lows will hold either. Below here we target the 1.0682 32 year support line”.

“Resistance comes in at the 1.1105/23 August, September and October 7 th lows with further resistance between the 200- and 55-day moving averages at 1.1175/82. Still more resistance can be seen along the 1.1237 resistance line”.

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 1.0999

40% Bullish
50% Bearish
10% Sideways

Bias Bearish

1 Month

Avg Forecast 1.0927

38% Bullish
46% Bearish
15% Sideways

Bias Bearish

1 Quarter

Avg Forecast 1.0839

27% Bullish
60% Bearish
13% Sideways

Bias Bearish

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.

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