12 Jan 2016
EUR/USD could test the 1.10/1.1060 band – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair could test the 1.10/1.1060 band.
Key Quotes
“EUR/USD scope remains for a probe into tougher resistance at 1.10/1.1060 – recent highs and the 200 day ma and these should act as an effective near term ceiling”.
“Key resistance remains the 1.1062/91 2014-2016 downtrend and 55 week ma and we view the market as bearish while capped here. Our target remains the 1.0523 recent low”.
Key Quotes
“EUR/USD scope remains for a probe into tougher resistance at 1.10/1.1060 – recent highs and the 200 day ma and these should act as an effective near term ceiling”.
“Key resistance remains the 1.1062/91 2014-2016 downtrend and 55 week ma and we view the market as bearish while capped here. Our target remains the 1.0523 recent low”.