EUR/USD offered below 1.0678 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted EUR/USD's stance remains offered while below 1.0678.

Key Quotes

“No change, the market failed to close below 1.0521 last week and has seen a small rebound. We look for the rally to falter ahead of the 20 day ma at 1.0641 and the 1.0678 3 month downtrend. We continue to target recent lows at 1.0352/40”.

“The market will remain directly offered below short term downtrend at 1.0678. Above here lies 1.0820/29, which represents the 50% retracement and the recent February high”.