EUR/USD: the February-March range may still persist for the pair (Commerzbank)

Commerzbank anticipates further consolidation of the EUR/USD pair within the 1.2155/1.2556 range.

"The EUR/USD continues to move between the February and March boundaries at 1.2556/1.2155.

A break above the two-month resistance line at 1.2415 would bring the March peak at 1.2447 in sight.

A minor support level is offered by the 55-day moving average at 1.2268. Below it is the 1.2165/55 zone.

Further consolidation between these levels and the March high at 1.2447 remains a possibility. If the 1.2447 level gives way, we could find the highs of January and February at 1.2538/56."