EUR/USD scope for a test of 1.1853/55 – Commerzbank

Pablo Piovano FXStreet

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair could now attempt a visit to the mid-1.1800s.

Key Quotes

“EUR/USD is has eroded key near term resistance at 1.1723/25 and this signals another shot at the June high at 1.1853/55. The intraday Elliott wave counts are more positive and intraday dips are expected to hold over 1.1710/1.1675 ahead of another leg up. Above 1.1855 we look for a deeper retracement to the 1.1927 55 week ma, with scope for the 1.1986 200 day ma”.

“Below 1.1500 will target the 200 week ma at 1.1388”.

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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