Soc Gen and Commerzbank have both pinpointed the price, the low from August, in separate reports.
Société Générale does not sound confident it'll hold, targeting a 50 point drop under the level;.
- EUR/USD is approaching the low formed in August at 1.1660
- Defending this can result in a bounce, however, multi month trend line near 1.1800 must be reclaimed for an extended bounce
- Next downside projections are located near 1.1610
CommerzBank:
- EUR/USD remains directly offered below 1.1750 and attention remains on the 1.1664 August low.
- This guards the 200-week ma at 1.1575 and the previous downtrend now at 1.1424
- Intraday rallies are indicated to fail ahead of 1.1750/73, but key nearby resistance is the 1.1823 three-month downtrend
Huh. The daily candle chart does not look too inspiring for the upside I guess:
