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EUR/USD severs short term uptrend - Commerzbank

FXStreet (Łódź) - Karen Jones, analyst at Commerzbank, believes that the EUR/USD corrective upward move has come to an end.

Key quotes

"EUR/USD charted an outside day to the downside 2 days ago and has now severed its short term uptrend."

"We view the corrective move higher as complete and look for the market to now come under pressure."

"The erosion of the short term uptrend should be enough to cast attention back to the 1.2500/1.2460 supports (recent low and 78.6% retracement)."

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