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Forex Flash: EUR/USD aims at 1.3485/1.3560 - Commerzbank

By FXstreet.com,  January 15, 2013, 02:39:00 AM EDT

FXstreet.com (Barcelona) - Commerzbank analysts admit that the break through 1.33085 high suggests unfinished business on the topside and scope for a push towards long term resistance at 1.3485/1.3560 (2012 high, a double Fibonacci retracement the 200 week moving average and the 55 MONTH moving average), where it should hold and provoke failure.

"Support is 1.3250/00 and the market stays bid above here - below would simply leave it ranging and heading back to the base of the channel at 1.3055", wrote analyst Karen Jones, allowing a small retracement after having reached the 1.3400 mark.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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