At the time of writing, the EUR/USD pair rises 0.30% to trade at 1.1881 and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the 200-month ma at 1.2635 as the pair has gone through tough resistance at 1.1815/33.
Key quotes
“EUR/USD is through tough resistance at 1.1815/33, this was a 61.8% Fibonacci retracement, a 12-year resistance line and the September 2018 high. We are surprised that this has not held the initial test. The break above here targets 1.2635/66, the 200-month ma.”
“Initial support lies 1.1663 (cloud support) ahead of the March high at 1.1495. Ideally dips lower will be contained by the two-month uptrend at 1.1430.”
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now