Forex Flash: EUR/USD gently easing towards 1.2970-1.3000 key support - Commerzbank

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FXstreet.com (Barcelona) - Commerzbank analysts see the EUR/USD resuming its gentle easing, with any near term strength as corrective only and directly offered below the 1.3150/90 pivot. The downside target is 1.2970-1.3000 key support (6 month uptrend, the 50% retracement of the move up from November and the 55 day MA). "While we would allow for this to hold the initial test, we are increasingly viewing the recent high at 1.3310 as an interim peak. Failure at 1.2970 will target 1.2675/61", wrote analyst Karen Jones.



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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