EUR/USD: the euro maintains its odds of reaching 1.1750 (Commerzbank)

Commerzbank still believes that the EUR/USD can rise to 1.1745/50 as long as it holds above 1.1508.

"The EUR/USD continues to hold above the support levels at 1.1510/08. This leaves intact the prospects of a recovery towards the resistance offered by the 1.1745/50 zone and the recent peak at 1.1790.

A rally above is needed to trigger a move towards 1.1853 and the 55-week moving average of 1.1910.

In the meantime, we remain unable to rule out a new test of the May and June lows at 1.1508/10. The EUR/USD will have to break below 1.1508 to ease upward pressures."