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Flash: EUR/USD topping out, look for 1.3208/1.3188 target – Commerzbank

FXstreet.com (Barcelona) – Karen Jones, FX Strategist at Commerzbank, continues to support a bearish view on the EUR/USD, saying “negative divergence of the daily RSI coupled with a 13 count on the TD combo continues to point to a top being formed.”

Jones believes last week’s 1.3298 low is now exposed, adding that “we look for a slide to the 1.3208/1.3188 support area”, with a break below confirming “a significant top has indeed been made” Jones said.

Recpveries should be capped by 1.3400 with the bearish scenario becoming invalid only above 1.3453 high, which “will allow gains to the 1.3500/20 region” Jones …read more