Apr 22, 2013
Forex Flash: EUR/USD rebound from 1.3000 Is corrective – Commerzbank
FXstreet.com (Barcelona) - Commerzbank analysts see the small rebound from 1.3000 as corrective and continue to view the recent failure ahead of the 1.3225/50% retracement as an interim peak. The support at 1.3000/1.2995 guards the 200 day ma at 1.2934 and the 1.2740 recent low. “Key support remains 1.2679/61, this is the 61.8% Fibonacci retracement of the July-to-January rise and the November 2012 low. Above 1.3225 will indicate a deeper retracement to 1.3340 and possibly 1.3503 (not favored)”, wrote analyst Karen Jones.