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EUR/USD holds initial test of 1.2605 support - Commerzbank

FXStreet (Łódź) - Karen Jones, analyst at Commerzbank, points out that EUR/USD support of 1.2605 managed to hold test.

Key quotes

"While this may prompt a small rebound, the market has recently charted an outside day to the downside and severed its short term uptrend."

"This suggests that the market should now come under pressure."

"We target the 1.2500/1.2460 supports (recent low and 78.6% retracement)."

"Intraday rallies are indicated to terminate circa 1.2695/1.2725."

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