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Forex Flash: EUR/USD to test and fail at 1.3115/35 – Commerzbank

The EUR/USD rebound is now happening: “This has yet to test the 1.3115/35 accelerated downtrend and Fibonacci retracement and we continue to look for failure in this zone”, wrote analyst Karen Jones, pointing to a directly offered market while capped here and initial support at 1.2914 (55 week ma) and then 1.2885/76 – the 7th December low and 78.6% retracement.
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