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EUR/USD eroding short term uptrend at 1.2710 - Commerzbank

FXStreet (Łódź) - Karen Jones, analyst at Commerzbank, suggests that the corrective EUR/USD uptrend seen in recent weeks is coming to an end.

Key quotes

"Risks are shifting to the downside and we suspect the corrective move higher we have seen over the past few weeks is over."

"Loss of 1.2700 should be enough to undermine the correction higher and cast attention back to the 1.2500/1.2460 supports (recent low and 78.6% retracement)."

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