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Forex Flash: EUR/USD might stall at 1.3150/90 - Commerzbank

By FXstreet.com,  January 09, 2013, 02:22:00 AM EDT

FXstreet.com (Barcelona) - Struggling at 1.3150 (50% retracement of the move down from the 1.3310 peak), Commerzbank analysts view near term strength as corrective only and will ideally see the market stall here between 1.3150/90: "This will cast attention back to the 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", wrote Karen Jones, pointing to 1.2675/61 in case of failure at 1.2970.




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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