EUR/USD Faces Consolidation in the Near-term – Commerzbank
Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the pair in a consolidative pattern in the very near term.
“EUR/USD attention remains on on the 1.1144 24th March low and the 1.1060/450 December high, the March 16 low and the channel”.
“Very near term we look for the market to consolidate and for rallies to remain capped by 1.1280/1.1300”.
“The base of the 6 month channel is expected to act as the break down point to the second channel at 1.0562”.