EUR/USD: Slight rebound at key support – Commerzbank

EUR/USD is attempting to consolidate just above the 1.0763 2000-2020 uptrend. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, analyzes the pair potential upside. 

Key quotes

“1.0763 is key support and we look for it to hold the downside and provoke reversal.” 

“Near term rallies will need to regain 1.0879 (the October low) as an absolute minimum in order to alleviate immediate downside pressure.”

“Resistance can now be seen at 1.0926, the September low, and the November low at 1.0981.”