EUR/USD Focus on 1.1234 – Commerzbank
According to Axel Rudolph, Senior Technical Analyst at Commerzbank, the
pair could attempt a test of the 1.1230 area, recent lows.
“Even though EUR/USD yesterday traded back around the 1.1400 level we expect it to remain below its current April high at 1.1465”.
“We thus still allow for slippage towards last week’s low at 1.1234 to be seen”.
“Below it lurks the 1.1144 24th March low with still further support coming in at the 1.1060/58 December high and the March 16 low. This guards the 2016 support line at 1.0951”.