Forex Flash: EUR/USD revisiting the upside - Commerzbank
Forex pairs in this Article » EUR/USD
FXstreet.com (Barcelona) - As the EURUSD climbs the chart, revisiting the 200 day moving average at 1.2806, Commerzbank analysts suspect the pair could reach the Oct-11 low, at 1.2825, and the resistance line at 1.2853 before coming off again. "While the latter caps, the 1.2661 current November low will remain in view", wrote analyst Axel Rudolph. "Failure here will push the symmetrical triangle downside measured target at 1.2483 to the fore", he added, pointing to initial support at 1.2607 (50% retracement). "In case of stronger than expected rallies to be seen this week, these should be contained by the 55 day moving average at 1.2902", Rudolph said.