FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the bearish outlook to prevail below the 1.1000/60 band.
Key Quotes
“EUR/USD is starting t break down from its range”.
“Overhead the market is facing tougher resistance at 1.10/1.1060. These are the recent highs and the 200 day ma, the 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”.
(Market News Provided by FXstreet)