Home EUR/USD towards a key support – Commerzbank
FXStreet News

EUR/USD towards a key support – Commerzbank

The EUR/USD pair has a major support at 1.0763 which is seen by Karen Jones, an analyst at Commerzbank, as the point where the pair will turn around. 

Key quotes

“EUR/USD has continued to collapse lower and remains on course for the 1.0763 2000-2020 uptrend. This is key support and we look for it to hold the downside and provoke reversal. So far there is no sign of a bounce.” 

“Near term rallies will need to regain 1.0879 (the October low) as an absolute minimum in order to alleviate immediate downside pressure.”

 

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.