EUR/USD Losing Momentum? – Commerzbank
In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank,
the pair’s upside momentum could be running out of steam.
Key Quotes
“EUR/USD
charted a minor new high of 1.1465 which was not confirmed by the daily
RSI. This suggests a loss of upside momentum at the September and
October highs at 1.1460/95 and ahead of the 1.1577 pivot line – we look
for signs of further failure”.
“We would allow for slippage
towards the 1.1144 24th March low. Key nearby support lies the 1.1060/58
December high and the March 16 low. This guards the bottom of the range
at 1.0908”.
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