EUR/USD: a break above 1.1880 is needed to reinforce the euro more (Commerzbank)

Commerzbank maintains its unchanged opinion on the EUR/USD and continues to monitor the 1.1712/1.1880 range.

"The EUR/USD rebounded from the lows of 21 November at 1.1712. An initial resistance level is at 1.1880, the high of 12 October, and as long as the pair blocks itself below, a bearish bias will remain in place. We also note a strong resistance zone between 1.1880 and 1.1976.

A close below 1.1712 should allow the EUR/USD to fall back to the 7 November low of 1.1553."