EUR/USD: monitor support at 1.2155 in the short term (Commerzbank)

Commerzbank believes that the EUR/USD is now shifting towards support at 1.2155.

"The EUR/USD recently broke the 2017-2018 uptrend line towards 1.2272, and on Monday it broke the base of the short-term triangle.

We believe that to really generate a bearish interest, we will have to close below February's dip at 1.2155.

We expect the EUR/USD to be trapped below 1.2418 resistance, and maintain a bearish bias as long as it remains below it.

Intraday rallies should find resistance at 1.2240/75".