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Forex Flash: EUR/USD with interim peak at 1.3310 – Commerzbank

By FXstreet.com,  January 07, 2013, 02:52:00 AM EDT

FXstreet.com (Barcelona) - Last week's selloff was held by the 1.3000 psychological level and the 1.2970-1.3000 region is seen as key short term. "This is the location of the 6 month uptrend, the 50% retracement of the move up from November and the 55 day ma", Karen Jones explained. "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 the Commerzbank analyst, pointing to intraday resistance at 1.3113/58, maybe capped at 1.3310, which leave attention on the 1.2970 2012-2013 uptrend, failre of which could target 1.2575/61 (initially).




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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