EUR/USD: Further Downside on the Cards? – Commerzbank

EUR/USD: Further Downside on the Cards? – Commerzbank

9 May 2016, 10:28
Roberto Jacobs
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EUR/USD: Further Downside on the Cards? – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, hinted at the possibility of a visit to the 1.1340 area in the short-term.

Key Quotes

EUR/USD came under pressure last week following its rejection at resistance offered by the top of 2 channels – these are located at 1.1656/1.1740 and are reinforced by the August 2015 high at 1.1713”.

“We look for further weakness this week to initially the 2 month support .line at 1.1339 and we may see this hold the initial test”.


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