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EUR/USD is on course for this years’ high at 1.2349 – Commerzbank

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EUR/USD is approaching this year’s high at 1.2349. within the end of the day , the pair targets 1.2556/1.2619, 2018 high, the 200-month moving average, and therefore the 55-quarter ma, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

EUR/USD is bid above the 1.2150 uptrend
“EUR/USD has eroded 1.2243, the February high near-term. The daily RSI has yet to verify the high and that we are slightly cautious.”

“The pair must hold above the near-term uptrend at 1.2150 so as to take care of upside pressure.

“We remain on track for 1.2349, 2021 high.”

“Our longer-term target is 1.2556/1.2619, 2018 high, the 200-month moving average and therefore the 55-quarter ma.”

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