EUR/USD neutral to positive above 1.0600 – Commerzbank

Senior Technical Analyst at Commerzbank Axel Rudolph noted EUR/USD stays neutral to positive above 1.0600 in the near term.

Key Quotes

“Last week’s advance is likely to fizzle out below the 1.0829 February high. As long as it caps, a slip back to the 1.0679 mid-February high may be seen this week. Further range trading seems to be on the cards. Above 1.0829 sits the 1.0851/93 area, made up of the October low, December high and the 200 day moving average”.

“A drop below the March 14 1.0600 low would neutralise the chart once more”.

“We stay overall negative below 1.0830. Only above 1.0830 would introduce scope to 1.0875 December high and the 200 day ma at 1.0896”.