The European currency was down from last week’s maximum at 1.3785 dropping today below 1.3200.

Technical analysts at Commerzbank believe that the pair EUR/USD will fall down to 200-day MA at 1.3131 after it ruined last week the 5-month uptrend line. In their view, this level will be able to hold the initial attack of the bears.

According to the specialists, the advance of the single currency will be capped by 1.3440/55 (middle November minimum and 23.6% Fibonacci retracement) and 1.3576.

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