Flash: EUR/USD would aim to 1.3208 – Commerzbank

FXstreet.com (Edinburgh) -The shared currency is looking to stabilize in the 1.3280-1.3300 band on Thursday, giving away some pips after hitting session highs in the boundaries of 1.3310 overnight, while waiting for the key calendar in the US economy. Axel Rudolph, Senior Technical Analyst at the German lender Commerzbank, observes the short-term outlook on the EUR/USD.

Key quotes

“EUR/USD should remain below its current August high at 1.3401 and still eyes the 1.3208/1.3188 support zone”.

“Only a drop through this support area will alleviate recent upside pressure. Failure here will target the 1.3000 region”.

“A rise above 1.3420 would suggest ongoing strength to 1.3500/20… This is regarded as the last defence for the 1.3711 February high”.