EUR/USD analysis from Commerzbank.

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Karen Jones, from Commerzbank, reported that the EUR/USD pair slid back on Friday and despite it almost reached but did not overcome the 1.1260/96 23.6% retracement of the move down from the 2014 peak and the 61.8% retracement of the move down from the August 2014 peak. “While the market continues to close below here we will maintain a negative bias – above will force us to neutralise” said Jones.

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