FXstreet.com (Barcelona) – Commerzbank analysts believe the EUR/USD has bearish bias after having broken down from the symmetrical triangle pattern and should be hitting 1.1934 target within 6 weeks, “which is the length of time the range took to complete (i.e by end of August)”, wrote analyst Karen Jones. “It is quite common for market to ‘return to point of break out’ from these patterns”, she added, pointing to 1.2457 as immediate resistance, with the market offered below there. First support is at 1.2053 (200-month MA).
