EUR/USD: the euro should remain bearish in the short term (Commerzbank)

Commerzbank states that the EUR/USD will remain bearish on the forex below 1.2155.

"The EUR/USD remains under pressure and has now closed below 1.2092. We may see a slight rebound, but this should remain limited, and we are maintaining a bearish bias below the February low of 1.2155.

Short-term rallies should find an obstacle towards 1.2155/1.2225.

A first support level is at 1.2015 with the 200-day moving average."