EUR/USD nears resistance at 1.1908/17 above which lies 1.1966 – Commerzbank

At the time of writing EUR/USD is adding 0.10% at 1.1890. The bulls need a decisive break above the July high around 1.1910 to extend the upside towards the mid-August peak at 1.1966, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, informs.

Key quotes

“EUR/USD has overcome the October peak at 1.1880, a rise above which targets the 1.1908/17 July, early August and September 10 highs. Further up sit the mid-August high at 1.1966 and the August peak at 1.2014.” 

“Minor support below the 55-day moving average at 1.1785 comes in at the 1.1689 mid-October low.”