Home EUR/USD targets the 2018 peak at 1.2556 – Commerzbank

EUR/USD targets the 2018 peak at 1.2556 – Commerzbank

Published date: 17 Dec. 2020 | 08:42

EUR/USD trades in 2 ¾ year highs and targets the 2018 high at 1.2556 while dips should find support at the 1.2073 uptrend, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports.

Key quotes

“EUR/USD made a 2 ¾ year high at its current December high at 1.2235 whilst en route to the 1.2556 2018 high and 1.2624, the 200-month moving average, which remains our longer-term target.”

“Slips should find initial support at 1.2073/58, the December 9 low and the nearby uptrend. Further support can be spotted at the 1.2014 September peak.”

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.