EUR/USD Risks a Test of 1.1144 – Commerzbank
In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank,
the pair could attempt a visit to recent lows in the 1.1140 area.
“EUR/USD charted another new high (1.1454), which again was not confirmed by the daily RSI and this suggests a loss of upside momentum just ahead of the September and October highs at 1.1460/95 and the 1.1577 pivot line – we now look for 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”.
(Market News Provided by FXstreet)