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Flash: EUR/USD to breakout below 1.2839 – Commerzbank

FXstreet.com (London) - Karen Jones at Commerzbank, Head of Technical analysis explains that the EUR/USD has sold off to and is holding at 1.2839, the 78.6% retracement of the move from April. She said that while this may prompt a small pause in the down-move, they ultimately look for it to break.

Her team highlights that this is considered to be the last defense for the 1.2740 recent low. They expect intraday rallies to fail 1.2977/1.3018 and while capped here the market will remain directly offered. Their department note’s the base of the cloud lies at 1.2939 and is expected to act as additional resistance

USD/CHF holds onto gains at 0.9672/73

The USD/CHF managed to rebound successfully off of yesterdays tumble, mounting a steadfast recovery and chugging along this morning during European trading Friday.
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Flash: What can we do with the EUR/USD? – Westpac, Commerzbank and UBS

The shared currency has given away most of Thursday’s gains and is back trading around the mid 1.28s after peaking in the boundaries of 1.2930 post-US poor data...
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