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EUR/USD upside seen as corrective – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the current up move of the pair is seen as corrective.

Key Quotes

EUR/USD is upside corrective and so far has reached the 1.1032 200 day ma”.

“It remains bid and there is scope for the 1.1087/97 September low and 28th October high”.

“Currently we remain unable to rule out an advance towards key resistance, which remains the 1.1228/17 2014-2015 downtrend and 55 week ma and while we it is possible that these are retested we look for the market to fail here”.

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