Flash: EUR/USD through 1.3600. Where to now? – Commerzbank and UBS
FXstreet.com (Edinburgh) – The bullish momentum around the single currency remains intact on Wednesday, pushing the EUR/USD back above the critical 1.3600 handle, posting fresh 4-week highs at the same time.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s “near term strength is viewed as corrective and we suspect that there is a potential rising wedge pattern on the chart, the top of the pattern is at 1.3613 and a close below 1.3440 will complete it. We look for the 1.3295/94 zone to be retested (current November low and the 50% retracement of the move …read more