EUR/USD negative below 1.1465/95 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s stance remains negative while below 1.1465/95.

Key Quotes

“EUR/USD steadied yesterday but appears to be struggling at the 1.1465/95 resistance. This leaves our attention once more on the 2016 channel, today at 1.1146”.

“Provided the market remains capped by 1.1465/95, our bias is negative and we should shortly see a retest of the critical 1.1146/1.1058 support. This is the 200 day ma, the 55 week ma, the December high, the March 16 low and the short term uptrend”.

“A close below 1.1058 would target 1.0821, the March low enroute to the base of the second channel at 1.0564”.