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Karen Jones, analyst at Commerzbank, suggests that EUR/USD has seen a fairly robust recovery just ahead of the 20 day ma at 1.1095.

Key Quotes

“The market is well placed to retest resistance at 1.1197- 1.1240 – namely the 55 week ma, the 2019-2020 down channel and the recent high. This guards the 200 week ma at 1.1360 which continues to represent a critical break point medium term.”

“Dips lower are well supported by the 55 and 20 day ma at 1.1095/1.1065 and the 3 month uptrend at 1.1045.”

“Failure at the uptrend would target the 1.0981 29th November low.”