Commerzbank: bearish on EUR/USD

Analysts at Commerzbank are bearish on euro. The specialists claim that EUR/USD is forming a top citing a “negative divergence of the daily RSI coupled with a 13 count on the TD combo”. The bank looks for a slide to $1.3208/1.3188. A break below this area will confirm that “a significant top has indeed been made.” On the upside the pair should be capped by $1.3400. Commerzbank will abandon this view only if EUR rises above $1.3453. In this case euro will get chance to rise to $1.3500/20.

Chart. H4 EUR/USD

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