EUR/USD scope for a retest of 1.0660/1.0700 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted there is room for a visit of the 1.0660/1.0700 area.

Key Quotes

EUR/USD has not sustained the break down from the base of the cloud at 1.0563. This delays our negative bias as it allows for a corrective move into the 1.0660/1.0700 band. Once complete our focus will return to recent lows at 1.0352/40”.

“Market will remain directly offered below its 20 day ma at 1.0698. Above here lies 1.0820/26, which represents the 50% retracement and the top of the cloud”.

 

Sell 62%
Buy 38%
100.0%62.0%060657075808590951000
Avg Sell Price 1.0669
Avg Buy Price 1.0681
Liquidity Distribution
1.03501.06721.103521.03501.06721.10352SellBuy