In opinion of Karen Jones, Staff Head FICC Technical Evaluation Analysis at Commerzbank, EUR/USD might now try to check the 1.1930/85 band.
“EUR/USD maintained its close to time period transfer increased yesterday. The Elliott wave rely nonetheless has this as being a correction solely however are permitting now for a transfer into the 1.1930/85 band. It might want to regain the 200-day ma and the 50% retracement at 1.2008/15 to reassert upside stress and a spotlight to the 1.2266 Might excessive.”
“Under 1.1750 consideration will revert to the September, November and March lows at 1.1704/1.1600.”