The EUR/USD It is around 1.1840, after four consecutive days of rises. Karen Jones, Head of Technical Analysis Research Team at Commerzbank, expects the pair to reach the March high and the 200-day moving average (DMA) in the region of 1.1990 / 1.2005.
1.1740 provides short-term support
“EUR / USD is still offered in the short term.”
“The dips should find the previous downtrend in 1.1740 offering short-term support.”
“The pair has recently completed a falling wedge reversal pattern and now Seeking gains toward July high of 1.1909 and then in the direction of the March high and the 200 WAD of 1.1990/1.2005.”
“Initial support is the March low at March 1.1704 before hitting the recent low of 1.1665 / 64 and the 200-week moving average at 1.1576.”
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