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”.
