EUR/USD a test of 1.0820 still on the cards – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, has not ruled out a potential visit of the 1.0820 area.

Key Quotes

“EUR/USD has held side ways over the past couple of days, it remains bid. We have a TD perfected set up on the daily chart and we would allow for a test of the near term support line, which lies at 1.0663. Failure here is needed to add weight to the idea that the correction higher is complete and would cast attention back to the 1.0372/40 recent lows”.

“We remain unable to rule out a move to 1.0820/26 50% retracement and the top if the cloud and 1.0875 the December high. This will make little impact on the overall bearish chart”.