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19 Feb 2020
EUR/USD towards a key support – Commerzbank
The EUR/USD pair has a major support at 1.0763 which is seen by Karen Jones, an analyst at Commerzbank, as the point where the pair will turn around.
Key quotes
“EUR/USD has continued to collapse lower and remains on course for the 1.0763 2000-2020 uptrend. This is key support and we look for it to hold the downside and provoke reversal. So far there is no sign of a bounce.”
“Near term rallies will need to regain 1.0879 (the October low) as an absolute minimum in order to alleviate immediate downside pressure.”