EUR/USD: Stalling at 1.1167 – Commerzbank

EUR/USD has eroded the 200 day moving average but not maintained the break. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, examines the EUR/USD pair from a technical standpoint.

Key quotes  

“EUR/USD has eroded the 200 day moving average but not maintained the break and appears to be stalling at the 61.8% retracement at 1.1167; we would allow for a minor retracement to 1.0990.”

“Above 1.1167 will open the path to December and January and March 16 highs at 1.1224/40. This area guards the 1.1495 March high.”

“Initial support is 1.0926/41 the September and October lows. This guards 1.0778, the mid February low.”