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EUR/USD seen holding the downside in the 1.0879/0763 band – Commerzbank

In opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, the pair’s decline is expected to face a solid support in the 1.0879/1.0763 band.

Key Quotes

EUR/USD remains under pressure and has eroded the October low at 1.0879. This, together with the 1.0814/78.6% retracement and the 1.0763 2000-2020 uptrend, represent a major band of support, that we look to hold.”

“Intraday rallies are likely to halt around 1.0910/40.”

“Resistance can now be seen between the November and January lows at 1.0981/92.”

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