EUR/USD still faces downside risks – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likeliness of the pair to resume its downside.

Key Quotes

“EUR/USD has sold off towards and is seeing a small rebound from the 1.1279 55 day ma”.

“It has recently eroded its 2 month uptrend and 20 day ma and is expected to remain on the defensive this week. We look for losses to the 1.1216 April trough”.

“Further down lurks the 1.1144 24th March low and the 1.1060/58 December high and the March 16 low”.