EUR/USD Door Open for a Visit to 1.1144 – Commerzbank
Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair could slip towards 1.1144.
“EUR/USD charted a minor new high of 1.1465 which was not confirmed by the daily RSI earlier this week”.
“This loss of momentum at tough resistance has taken its toll and the market has sold off sharply and 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 1.0930. Intraday rallies are indicated to terminate circa 1.1320”.