EUR/USD Could Struggle Near 1.1500 – Commerzbank
Axel Rudolph, Senior Technical Analyst at Commerzbank, sees the pair’s upside struggling in the boundaries of 1.1500.
“EUR/USD is still rising but now digs into resistance which remains to be seen at the 1.1465/95 April and October peaks. This we still do not expect to be overcome”.
“If this were to happen, though, the February 2015 high at 1.1534 would be in focus”.
“Support can be seen along the two month support line at 1.1278 and at the 1.1216 April trough. Further down 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 1.0982”.