EUR/USD to extend its slide on a break below the 1.1664 August low – Commerzbank

EUR/USD has dropped to fresh weekly lows near 1.1670. A break below the 1.1664 August low would introduce scope to the 200-week ma at 1.1576, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

EUR/USD stays directly offered below 1.1823

“EUR/USD remains directly offered below 1.1750 and attention remains on the 1.1664 August low. This guards the 200-week ma at 1.1575 and the previous downtrend nowat 1.1424.”

“Intraday rallies are indicated to fail ahead of 1.1750/73, but key nearby resistance is the 1.1823 three-month downtrend.”