Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, stated that EUR/USD faces preliminary rivalry round the 1.1936 level.
“EUR/USD has reached 1.2145, the 78.6% retracement and this may additionally provoke some consolidation, it is additionally the destroy up factor longer time period to 1.2622, the 200 month shifting average, this stays our ordinary target. We have extra thirteen counts on the intraday charts and TD resistance at 1.2175/1.2204.and will strive to buy the dips. Dips need to discover preliminary help at 1.1936 and suitable close by aid at the 1.1800/09 November 23 low and the fifty five day ma. EUR/USD will stay bid whilst above the six month assist line at 1.1749.”