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EUR/USD door open for a test of 1.080 – Commerzbank

FXStreet (Edinburgh) - In light of the recent price action in the pair, Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees a potential downside to the 1.0808 area.

Key Quotes

EUR/USD remains under pressure following its break of its 7 month 2015 support line”.

“This is bearish and is considered to be the completion of a consolidation pattern which has developed for most of this year”.

“We would like to also see a weekly close below 1.0965/40 to confirm the break, but currently will just go with it - we look for losses to 1.0808 and 1.0457, the March low”.

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