EUR/USD stays focused on 1.1900 and above – Commerzbank

Pablo Piovano FXStreet

In opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, EUR/USD’s attention remains on the 1.1920/26 band.

Key Quotes

“EUR/USD has tested and so far remains capped by its current November high at 1.1920 and the 78.6% retracement at 1.1926, it remains range bound, but is bid in its range. Dips lower have been tepid and should ideally be contained by the 1.1689 mid-October low.”

“Resistance at 1.1926 is considered the last defence for the August peak at 1.2014.”

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.