EUR/USD negative bias remains unchanged – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s perspective remains on the negative camp for the time being.

Key Quotes

“EUR/USD has seen a rebound but maintains a negative bias following recent failure at 1.1415/20 last week”.

“We are looking for a retest of the critical 1.1115/1.1058 support. This is the 200 day ma, the 55 week ma, the December high, the March 16 low and the short term uptrend”.

“Ideally intraday rallies will find immediate resistance 1.1285. Initial support lies at 1.1216, the 25th April low. The 1.1058 support is expected to act as the break down point to the second channel at 1.0564”.