EUR/USD stays focused on 1.1900 and above – Commerzbank

In opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, EUR/USD’s attention remains on the 1.1920/26 band.

Key Quotes

“EUR/USD has tested and so far remains capped by its current November high at 1.1920 and the 78.6% retracement at 1.1926, it remains range bound, but is bid in its range. Dips lower have been tepid and should ideally be contained by the 1.1689 mid-October low.”

“Resistance at 1.1926 is considered the last defence for the August peak at 1.2014.”