Commerzbank analyst Karen Jones offers a major technical level on the pair of EUR / USD, as we move forward to the decision of the ECB monetary policy, today.
Euro / USD 1.1712 has seen a decent rebound from November 21. Although we suspect that this is going to move forward, we also keep in mind the heavy resistance, which extends to 1.1976 / 78.6% retracement. The initial resistance is at 1.1880 October 12th. "
"A close low pressure of 1.1712 is enough to refuse pressure and the slippage should be sufficient to reduce back to 1.1553 November 7."
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