EUR/USD faces support at 1.1145/1.1095 – Commerzbank

Following the recent price action, dips in the pair should hold around 1.1145/1.1095, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“EUR/USD has galloped through the 6 month downtrend and in doing so opened the path to the 1.1366 August 2016 high and introduced scope for the 1.1616 May high. Key long term resistance is the 1.1713 August 2015 high and the 1.1812 long term Fibo”.

“Intraday dips are indicated to hold 1.1145/1.1095 ahead of the overnight low at 1.0990”.