EUR/USD: Support set to be held – Commerzbank

Analysts at Commerzbank do not see the EUR/USD pair breaking the support at 1.0941/26 and heading to an October low. 

Key quotes

“EUR/USD’s sell-off has taken it to the early September and October 8 lows at 1.0941/26 which we expect to hold today. If not, the October low at 1.0879 would be back in the picture.”

“Resistance can now be seen between the November and January lows at 1.0981/92. Rallies will need to regain the 55-day ma at 1.1089 in order to alleviate immediate downside pressure.”