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.
“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”.