EUR/USD faces consolidation in the near-term – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the pair in a consolidative pattern in the very near term.

Key Quotes

“EUR/USD attention remains on on the 1.1144 24th March low and the 1.1060/450 December high, the March 16 low and the channel”.

“Very near term we look for the market to consolidate and for rallies to remain capped by 1.1280/1.1300”.

“The base of the 6 month channel is expected to act as the break down point to the second channel at 1.0562”.