EUR/USD upside pressure mitigated below 1.0675 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the upside pressure in EUR/USD should ease below 1.0675.

Key Quotes

“The Euro is upside corrective rebound very near term and we are very near to our stop level. The rebound is gaining traction and will need to drop back below 1.0675 to alleviate immediate upside corrective pressure. Failure at nearby Fibonacci support at 1.0555 should be enough to trigger weakness to the 1.0494 the March low then 1.0352/40 the January low. Our bias stays negative”.

“A close above the 200 day ma at 1.0841 would put the 1.0978/50% retracement back on the agenda”.

Apr 20, 2017

UK: Pound guided by the politics and macro developments – Lloyds Bank

Analysts at Lloyds Bank note that the UK pound held on to much of the gains recorded in the wake of the election announcement holding above 1.28 again

GBP/USD still targets 1.2950 – UOB

In view of FX Strategists at UOB Group, Cable still targets the mid-1.2900s in the near term. Key Quotes “The rapid pull-back from a high of 1.2860