Forex Flash: EUR subdued - Commerzbank

FXstreet.com (London) - Commerzbank Analyst Karen Jones say’s that the EUR/USD remains subdued, holding sideways at the base of the cloud and the Fibonacci support at 1.2916/30. She expects intraday rallies to fail at 1.2977/1.3030 and her team are now looking for the next leg lower. She see’s initial support is 1.2839, the 78.6% retracement and the last defence for the 1.2740 recent low.