EUR/USD: upside bias unchanged above 1.1181/76 – Commerzbank

Pablo Piovano FXStreet

Karen Jones, Team Head FICC Technical Analysis at Commerzbank, suggested the positive outlook in EUR/USD should remain intact while above the 1.1181/76 band.

Key Quotes

“EUR/USD is really making a meal of trying to get through interim resistance at 1.1285 and again sold off on Friday. Provided dips lower hold over the March and mid-June lows at 1.1181/76 an upside bias will be preserved. We should then see a recovery towards the 200 day moving average and early June high at 1.1315/48. This guards the more important 1.1344/1.1412 55 week ma and recent high”.

“Above the 1.1412 June high we look for resumption of the up move and a test of the 1.1570 2019 high. Slightly longer term we target 1.1815/54, the highs from June and September 2018”.

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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