EUR/USD: Wednesday's break signals greater potential for a short-term rise (Commerzbank)

In view of the current recovery, Commerzbank notes that the EUR/USD is now likely to return to the 1.1875/1.1990 zone.

"The EUR/USD broke the 20-day moving average and paves the way for a potential deeper retracement to the 1.1875/1.1990 range.

It is interesting to note that the Elliott waves always indicate a failure to rise, and for this reason we will remain neutral for now."