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EUR/USD door open for 1.0980 – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, the single currency could re-test the 1.0980 area vs. the greenback.

Key Quotes

EUR/USD is attempting to stabilise very near term circa 1.08”.

“There is scope for a further advance very near term to the 1.1032 200 day ma and even the 1.1087/97 September low and 28th October high, however here we would expect to see the market falter”.

“Key resistance remains the 1.1228/17 2014-2015 downtrend and 55 week ma and while capped here the market will remain in a longer term down move”.

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