EUR/USD: the euro could further accentuate its upward movement on the forex (Commerzbank)

Commerzbank notes that a break in the 20-day moving average would further boost the EUR/USD's uptrend.

"The EUR/USD's rebound from the 1.1300 zone may still expand and has exceeded the May and June lows at 1.1508/10, suggesting an extension to the 55-day moving average at 1.1628.

The EUR/USD has tested the 20-day moving average at 1.1542 and will have to fall back below 1.1390 to ease the immediate upward pressure."