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EUR/USD: To hold major support– Commerzbank

The EUR/USD pair continues falling but is set not to lose a main support at 1.0814/1.0763. Karen Jones from Commerzbank recommends trying little longs at 1.0785.

Key quotes

“EUR/USD remains in free fall and is on course for the 1.0814/78.6% retracement and the 1.0763 2000-2020 uptrend, this latter level represents a major band of support, that we look to hold.”

“Short term trend (1-3 weeks): Is easing back to the 1.0814/1.0762 support zone.”

“Attempt tiny longs at market, add 1.0785, stop 1.0750.”

 

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