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

EUR/USD is approaching this year's high at 1.2349. In the long-run, the pair tTargets 1.2556/1.2619, the 2018 high, the 200-month moving average and 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 confirm the high and we are slightly cautious.”

“The pair must hold above the near-term uptrend at 1.2150 in order to maintain upside pressure. 

“We remain on target for 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.”