FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects EUR/USD losses to the 1.2130.

“EUR/USD last week saw a divergence of daily RSI – this reflected a loss of upside momentum and, near-term, the market is downside corrective.” 

“The pair has eroded the near-term uptrend, and we look for losses to the 1.2130 21st December low and potentially 1.2014 the September high and even the 1.1915 uptrend.”

“On a medium-term view, the market continues to track higher whilst targeting the 1.2556 2018 high and 1.2624, the 200-month moving average, which remains our longer-term target.”