Wednesday, February 24, 2010

Commerzbank: Euro / dollar remains under pressure

As the currency analysts Commerzbank, despite the partial restoration of the euro / dollar, after yesterday's decline, which was stopped in the area of 1.3500, the pair remains under pressure. The bank's strategy drew attention to the fact that a break above the resistance line has not received confirmation, and is now threatened area of support is 1.3445/05, where the minimum and the recent mid-term corrective Fibonacci level. Analysts say the bank, the euro / dollar consolidated just before resumption of decline. As part of the initial upward movement resistance strategy of the bank put the level of 1.3713, where the 20-day moving average, in the case of a breakthrough which will make a significant obstacle region Fibonacci resistance 1.3845/75. Currently, the euro / dollar was at around 1.3544.

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