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Recommendations on pair EUR/USD from Commerzbank
Commerzbank analysts have a negative outlook for the EUR/USD that includes strong resistance at 1.3291/1.3325: “We continue to regard the recent high at 1.3487 as an interim peak and regard the market as directly offered intraday below 1.3291/1.3325”, wrote Karen Jones, targeting 1.2974/54 (Feb-low) ahead of 1.2624 (Jan-low). In conclusion, 1.3487 high marks the end of the upside correction and an eventual drop below 1.2624 will pave the way to 1.2000 region.
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