Filed Under:
Forex pairs in this Article » EUR/USD (Barcelona) - As the EURUSD has consolidated above the 1.3250 zone, Commerzbank analysts see pressure on the topside: "Above 1.3405 we look for gains towards tough long term resistance at 1.3485/1.3560 this is the location of the 2012 high, a double Fibonacci retracement the 200 week moving average and the 55 MONTH moving average", wrote analyst Karen Jones, expecting failure there.

Below 1.3250/00, the market would range and head back to the base of the channel at 1.3082, with key support at 1.3009/00 (6 month uptrend). "Note should a close above 1.3560 be seen we have very little until 1.3833, the 61.8% retracement of the move down from the 2011-2012 move", Jones added.
comments powered by Disqus