EUR/USD remains directly offered below 1.0630 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted EUR/USD should stay offered while below 1.0630.

Key Quotes

“The market has again failed at its 20 day ma at 1.0630 and is directly offered below here. Resistance is reinforced by the 1.0670 3 month downtrend and we continue to target recent lows at 1.0352/40”.

“The market will remain directly offered below short term downtrend at 1.0670 and last weeks high at 1.0679. Above here lies 1.0820/29, which represents the 50% retracement and the recent February high”.

“Only above 1.0830 would introduce scope to 1.0875 December high and the 200 day ma at 1.0955”.