Eur / usd: Rally will be hampered in the area of 1.0710 / 15
According to analysts at Commerzbank, attempts to increase EUR / USD zabuksuet near 1.0710 / 15.
Key points
"The pair continues to remain under pressure - after a recent unsuccessful attempt to break through the 200-day MA it fell to the 55-day MA at 1.0674, which moved into a phase of consolidation. Here rebound will be weak and we expect a decline to the bottom of a short term channel at 1.0583. Note the cloud support at 1.0625 on the daily chart, which, we believe, will slow decline. Intraday rallies will continue to restrain the area 1.0710 / 15. "
Closure above 200 day MA can again couple to aim at 1.0978, 50% correction. "
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