EUR/USD focus remains on the 1.1140 area – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, argued the pair’s attention remains on the 1.1140 region.

Key Quotes

“EUR/USD held steady on Friday following a week of relentless downside pressure”.

“Our attention is on the 1.1144 24th March low and the 1.1060/46 December high, the March 16 low and the channel”.

“Very near term we look for rallies to remain capped by 1.1270/1.1300. The base of the 6 month channel is expected to act as the break down point to the second channel at 1.0562”.