EUR/USD: Recovery? - Commerzbank

Sandeep Kanihama FXStreet Contributor

According to Karen Jones, analyst at Commerzbank, EUR/USD is attempting to recover from approximately 1.1200 and focus remains on the 200 week ma at 1.1348 and the 200 day ma at 1.1356.

Key Quotes

“Dips lower will find initial support at 1.1200 and will ideally be contained by 1.1175. To really ignite upside interest, we suspect a close above 1.1358 is needed to target initially the 1.1570 2019 high. We regard recent lows at 1.1110/06 as an interim turning point.”

“Support at 1.1110/06 is regarded as the break down point to the 2018-2019 support line at 1.1027 and the 1.0814 78.6% Fibonacci retracement.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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