EUR/USD stays negative - Commerzbank

According to Karen Jones, Technical Analyst at Commerzbank, the EUR/USD pair remains vulnerable to extend its downward trajectory in the near-term.

Key quotes:

"Yesterday we saw a small bounce higher – this is expected to remain short lived, and failed circa 1.1810 as expected. The 55 day ma has been eroded BUT we have seen NO close below here (1.1760). A close below 1.1712 the recent low should be enough to negate upside pressure and allow for slippage back to the 1.1553 7th November low."