EUR/USD: more bullish attempts expected in the short term (Commerzbank)

Commerzbank believes that the EUR/USD should still push upward on forex in the near term.

"The EUR/USD has rebounded from last week's 1.1510/08 zone, and we should see further upside attempts this week.

This leaves the pair well positioned to test the resistance level offered by the 1.1745/50 zone and the recent peak at 1.1790.

A close above this would be needed to trigger a move towards 1.1853 and the 55-week moving average (1.1907).

The EUR/USD would have to break below 1.1508 to ease the upward pressures."