Commerzbank predicts EUR/USD to slip below 1.0711.

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As per Commerzbank analysts’ prediction, the Eurozone economic growth and inflation will remain below the ECB’s target, and Euro Exchange Rate is forecasted to soften in the medium term.

The speculations on ECB to ease the monetary policy in March have a damaging impact on Euro demand.

Axel Rudolph, Senior Technical Analyst at Commerzbank, forecasted that EUR/USD rate will slip through its 1.0776 January 21 low for another down leg to the current January low at 1.0711 and below.

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