FXStreet notes that EUR/USD is rebounding from trendline support at 1.2082. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, targets the 1.2243 February high and then the 1.2349 2021 high. 

“We are unable to rule out some slippage to the 1.1994/86 band of support (mid-March highs and the 22nd April low).”

“While underpinned at the 1.1994/86 band of support (mid-March highs and the 22nd April low), the pair should remain steady and we look for a re-test 1.2210/43, the 78.6% retracement of the move seen this year. This is regarded as the last defence for 1.2349, the 2021 high."