EUR/USD still targets the 1.1323/48 band – Commerzbank

Spot remains on track to visit the 1.1323/48 band while underpinned by the 1.1181/76 band, suggested Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key Quotes

“Last week EUR/USD reversed ahead of the March and mid-June lows at 1.1181/76 as expected. While this area underpins on a daily chart closing basis, the 200 day moving average and early June high at 1.1323/48 will remain in sight. This guards the more important 1.1394/1.1412 55 week ma and recent high”.

“Above the 1.1412 June high we look for a test of the 1.1570 2019 high. Slightly longer term we target 1.1815/54, the highs from June and September 2018”.