EUR/USD: Above 1.2243 targets 1.2349, the 2021 high – Commerzbank

EUR/USD is again probing 1.2243, the February high, as the US dollar is back under pressure. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to test the 2021 high at 1.2349 next.

Uptrend at 1.2116 underpins the euro

“EUR/USD is underpinned by the near term uptrend at 1.2116 and stays immediately bid above here.” 

“Above 1.2243 targets 1.2349, the 2021 high.” 

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