EUR/USD has held below the February high twice now – Commerzbank

Market news

24 May 2021

EUR/USD has held below the February high twice now – Commerzbank

FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank maintained a bullish bias on the EUR/USD pair.

“EUR/USD again tested and held below 1.2243, the February high, twice last week. The daily RSI has diverged and attention has reverted to the near term uptrend at 1.2128. Above 1.2243 targets 1.2349, 2021 high.”

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

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