Flash: what we can do with the EUR/USD? -UBS and Commerzbank

Fxstreet.es (Edinburgh) - it seems that the common currency has found solid support in the vicinity of the psychological 1.3000 mark, at least until the meeting of the ECB scheduled for Thursday. According to previous surveys, both the announcement of the central bank and the subsequent press conference of Chairman Draghi would have a pessimistic tone, so that EUR/USD is a candidate to be under pressure.

Strategists G.Yu and G.Berry at UBS have commented "with the MACD below the zero line, the potential is toward greater setbacks. Immediate support is at 1.2985 ahead of 1.2797, while resistance is at 1.3150 ". And it is useful to remember that the Swiss Bank maintained a bearish perspective on the pair.

In the same vein, the technical analyst at Commerzbank Axel Rudolph has commented, "directly below the minimum at the end of June at 1.2985 lies the 1.2932/1.2885 band (moving average 55-week, retreat of the 78.6% and 2012-2013 support line)." We suspect that this area will contain the initial test prior to fall to 1.2796 and then the minimum of April at 1.2740 ".

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