Comments and forex-analytics from FBS Brokerage Company - page 25
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Commerzbank: negative prospects for EUR/USD
Technical analysts at Commerzbank note that the European currency has breached its 4-month uptrend versus the greenback. As a result, the near-term outlook for the pair EUR/USD has switched to negative.
The specialists believe that the bulls will face today the resistance at 1.4293 and 1.4377. As long as euro trades below 1.4377, it will be poised down to 1.4130 and the March minimum at 1.4021.