EUR/USD: a bearish bias remains in place at the moment (Commerzbank)

Commerzbank states that the EUR/USD remains bearish below 1.1790.

"The outlook for the EUR/USD is neutral to negative. The pair is horizontal but under pressure within its range.

This will remain the case as long as it stays below the short-term resistance line at 1.1731.

For the time being, we are maintaining a bearish bias below 1.1790, but the EUR/USD is currently quite neutral.

Our attention remains on the recent lows near 1.1510/08.

The EUR/USD chart plots a bearish triangle potential, and for it to remain valid, prices must remain below the resistance line. Above we could have a foundation."