EUR/USD eyes on 1.1660 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains focused on the 1.1660 area.

Key Quotes

“EUR/USD is back under pressure and the 1.1662 August low is exposed. Intraday rallies have so far been relatively tepid and will find initial resistance at 1.1832 55 day ma and remain contained by the 20 day ma at 1.1851”.

“We would treat a break below 1.660 as the trigger for a sell off to the mid-June high at 1.1296 and the more important 1.1110 end of May low”.

“Above 1.2092 would target the 50% retracement from the move down from the 2014 high at 1.2168 and the 1.2372 200 month ma, but if seen, that is expected to hold”.