EUR/USD to see another leg higher towards the 1.1990/1.2014 zone – Commerzbank

EUR/USD is easing back from the 1.1909 July high. However, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, still expects the pair to edge higher towards the 1.1990/1.2014 region.

See: EUR/USD set to revisit the 1.20 level – TDS

Dips lower to be contained by the 55-day ma at 1.1813

“EUR/USD is easing back from the end of July high at 1.1909, dips lower are indicated to remain shallow and ideally will be contained by the 55-day ma at 1.1813.”

“We still favour an eventual extension towards the 1.1990/1.2014 August 2020 high and 200-day ma.”

“The 55-day ma at 1.1813 guards the 1.1704 March low and the 1.1664 August low.”