EUR/USD rallies should struggle near 1.0730 – Commerzbank

Pablo Piovano FXStreet

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, occasional bullish attempts should face strong resistance around 1.0730.

Key Quotes

“EUR/USD saw a decent rebound from 1.0521 last week. This has so far merely delayed our negative bias as no resistance of note has been eroded and it still remains capped by the 20 day ma at 1.0688 and the 3 month downtrend at 1.0725. Our focus remains on recent lows at 1.0352/40”.

“The market will remain directly offered below short term downtrend at 1.0725. Above here lies 1.0820/26, which represents the 50% retracement and the top of the cloud”.

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 1.0635

43% Bullish
57% Bearish
0% Sideways

Bias Bearish

1 Month

Avg Forecast 1.0659

40% Bullish
40% Bearish
20% Sideways

Bias Neutral

1 Quarter

Avg Forecast 1.0419

11% Bullish
68% Bearish
21% 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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