EUR/USD Remains Vulnerable – Commerzbank
In light of the recent price action, the pair is poised to remain under
pressure, suggested Karen Jones, Head of FICC Technical Analysis at
Commerzbank.
Key Quotes
“EUR/USD has started to erode its 2 month uptrend and 20 day ma at 1.1388/72”.
“Rallies are expected to remain muted and we look for the market to
remain under pressure following its recent 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”.
