Axel Rudolph, analyst at Commerzbank, suggests that EUR/USD pair has seen a strong bounce from its current September low at 1.0926 and the nearby resistance can be found at the April and May lows at 1.1110/1.1106 as well as along the three month resistance line at 1.1132. Key Quotes “Only a daily chart close above the August 26 high at 1.1164 would confirm a bottoming formation and put the 200 day ma at 1.1268 back on the cards. Ideally we would like the 55 week ma at 1.1329 to be exceeded as well. Support below the minor psychological 1.1000 mark comes in at the current September low at 1.0926.” “Below the 1.0926 low lie the June 2016 low and the March 2017 high at 1.0912/07. Further down sit the January 2017 low at 1.0829 and the 78.6% Fibonacci retracement of the 2017-2018 advance at 1.0814.” “The cross will need to regain the 55 week ma and downtrend channel resistance line at 1.1329/46 to generate upside interest.” FX Street 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 Post By FX Street FXStreet News share Read Next Ethereum (ETH) price analysis: ETH/USD retreats from Asian high, retains positive bias FX Street 4 years Axel Rudolph, analyst at Commerzbank, suggests that EUR/USD pair has seen a strong bounce from its current September low at 1.0926 and the nearby resistance can be found at the April and May lows at 1.1110/1.1106 as well as along the three month resistance line at 1.1132. Key Quotes "Only a daily chart close above the August 26 high at 1.1164 would confirm a bottoming formation and put the 200 day ma at 1.1268 back on the cards. Ideally we would like the 55 week ma at 1.1329 to be exceeded as well. Support below the minor psychological 1.1000 mark… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
