Flash: EUR/USD risks to the downside – Commerzbank

FXstreet.com (London) - Commerzbank has noted that the EUR/USD continues to range sideways to lower between last week’s low at 1.2821 and the 55- and 200-day moving averages at 1.2978/1.3027.

They continue to view the near term upside probes as corrective only and the risk remains on the downside. They see a minor support at 1.2810/1.2796, which guards the 1.2740 April low and the 1.2679/61 long term Fibo.