EUR / USD hit the highest level since March above 1.2120 on Thursday. Karen Jones, Head of FICC Technical Analysis Research Team at Commerzbank, expects the world’s most popular currency pair to rise towards the 1.2210 / 43 zone.
EUR / USD offered above 1.1990
“The EUR / USD pair closed yesterday just above the March 3 high of 1.2115. The market remains immediately offered as long as it is above the March 11 high of 1.1990”
“We seek profit up to 1.2210 / 43, the 78.6% decline in the movement seen this year and the maximum in February and then we aim at 1.2349, the maximum of 2021 “.
“We note that the lower drops should remain shallow and should be contained by 1.2070 / 30.”
“The 55-day moving average at 1.1970 and the 200-day moving average at 1.1941 offer additional support.”
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