EUR/USD: Capable of a recovery near-term – Commerzbank

EUR/USD has again recovered from the near-term support line at 1.0777, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, informs.

Key quotes

“We should see a recovery to the top of the range at 1.0978. This latter level will be reinforced by the 200-day ma at 1.1023 currently and the market is likely to struggle here.” 

“Below 1.0777 will target the 1.0727 24th April low and potentially the 1.0636 March low and the 1.0340 2017 low.”