EUR/USD fell to minor help at 1.1836/24, neutralizing the bullish view of economists at Commerzbank. Trying forward, the pair might goal the 1.1704 March low.
Bullish bias neutralized
“EUR/USD fell via the 2020-2021 uptrend line at 1.1927 to the March 9 low and the 78.6% Fibonacci retracement at 1.1836/24, making us query our longer-term bullish view. Additional down the April 5 low sits at 1.1738 and the March low could be noticed at 1.1704.”
“Minor resistance above the February low at 1.1952 could be seen alongside the 200-day shifting common at 1.1996 after which additionally on the 1.2052 mid-Might low and the 55-day shifting common at 1.2083.”