EUR/USD: Stalling ahead of the 1.1014 200-day moving average – Commerzbank

EUR/USD has rallied towards and failed just ahead of the 200-day moving average and the current May high at 1.1014/19, per Commerzbank’s Karen Jones. The world’s most popular currency pair is currently trading at 1.0930.

Key quotes

“Ideally dips will hold circa 1.0890 for another leg higher. A close above here (favoured) is needed to regenerate upside interest to the 1.1240 December peak and beyond.” 

“Dips should find that the short-term uptrend at 1.0797 offers support and while above here will assume a neutral to positive bias.”