Forex Flash: What lies ahead of EUR/USD? – Commerzbank and UBS

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FXstreet.com (Barcelona) - The bloc currency remains flat around 1.3080 on Wednesday, ahead of the GDP figures in the euro zone during the fourth quarter.

According to Karen Jones, Head of FICC Technical Analysis at the German lender Commerzbank, "EUR/USD is starting to struggle at 1.3150, the 50% retracement of the move down from the 1.3310 peak. We view near term strength as corrective only and will ideally see the market stall here between 1.3150/90".

In addition, strategists Geoffrey Yu and Gareth Berry at UBS confirm the neutral stance on the cross, saying "A recovery through resistance at 1.3185 is required to resume strength, opening the way to 1.3308. Support lies at 1.2985/09".



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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