FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects EUR/USD to challenge the recent low of 1.1522 and sees scope for a slump to 1.1366.
“EUR/USD has recently just failed just ahead of the 55-day ma at 1.1694 and the 1.1696 five-month downtrend. The emphatic rejection from here implies that the 1.1522 recent low is exposed.”
“Key support is the previous downtrend (from 2008) which is now located at 1.1366.”