EUR/USD stays focused on 1.0879 – Commerzbank

In opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, the pair is now looking to a probable test of the 1.0880 region.

Key Quotes

“EUR/USD has eroded the early September and October 8 lows at 1.0941/26 and this puts the October low at 1.0879 back in the picture, together with the 1.0814/78.6% retracement. Below here we have the 1.0763 2000-2020 uptrend.”

“Intraday rallies are likely to halt around 1.0945/70.”

“Resistance can now be seen between the November and January lows at 1.0981/92.”