CB, SEB: bearish on EUR/USD
EUR/USD is trading sideways today after it declined yesterday quitting the $1.3600/3550 range. On the downside the single currency hit $1.3487 today, on the upside – $1.3545.
Commerzbank expects the pair to slide to $1.3460/53 (August high, 23.6% retracement of the advance from July) and then probably $1.3300 (3-month channel support). SEB also underlines that a break below $1.3462 will confirm a bearish setup.
Chart. H4 EUR/USD