Forex Flash: EUR/USD may consolidate very near term - Commerzbank
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - Commerzbank analysts believe the EURUSD may need to consolidate very near term after failing at maintaining its initial break below the 55 day ma at 1.2918. "We view the recent high at 1.3010 as an interim peak as the market has recently charted a key day reversal and a TD perfection set up - both imply that the market has recently topped", wrote analyst Karen Jones, eyeing the 1.2800/1.2797 area, the 200 day ma . "This is regarded as the break point to the 1.2661 November low", Jones added.