Karen Jones, Head of Technical Analysis Research Team at Commerzbank, noted that EUR / USD still remains on the defensive.
“He EUR/USD was stable yesterday, but remains on the defensive. It has recently eroded the 55-day moving average and the attention has dropped to 1.2014, the September high, already 1.2003, the upward trend of 2020-2021, which we suspect will continue ”.
“Assuming that the uptrend (1.2003) is maintained and the 23.6% retracement of the upward movement since March 2020 (1.1945), in the medium term, the upward trend would remain intact and pointing to the maximum of 2018 in 1.2556 and 1.2624, the 200-month moving average, which remains our long-term goal. “
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