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Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that EUR/USD continues to rebound strongly from cloud support at 1.3564/55.

Key Quotes

“This is the third time it has held and we remain unable to rule out a corrective rebound into the 1.3740 area, where we should see the rally fail.”

“Failure here will leave the 1.3498 4 month support line exposed. We favour further losses to 1.3335/1.3295 (recent low, Fibo and 200 day ma). Initial support is the 1.3525 low from early December.”

“Above 1.3740 would allow for a deeper retracement to 1.3776 then1.3820, the 78.6% retracement.”
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