26 Aug 2015
EUR/USD interim high at 1.1713? – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the recent high above the 1.1700 handle as a potential interim top.
Key Quotes
“EUR/USD we suspect that the 1.1713 recent high is an interim high and the market has failed at the top of its 5 month channel, 55 week ma and the 2014-2015 downtrend at 1.1700/25”.
“We view this as a huge a-b-c correction (from the March low) and continue to look for signs of failure”.
“Dips should find support at 1.1440, 1.1322 ahead of the 1.1119 support line”.
Key Quotes
“EUR/USD we suspect that the 1.1713 recent high is an interim high and the market has failed at the top of its 5 month channel, 55 week ma and the 2014-2015 downtrend at 1.1700/25”.
“We view this as a huge a-b-c correction (from the March low) and continue to look for signs of failure”.
“Dips should find support at 1.1440, 1.1322 ahead of the 1.1119 support line”.