EUR/USD: the euro continues to maintain bullish pressure on the forex (Commerzbank)

Commerzbank notes that the EUR/USD remains in the 1.1745/50 zone for the moment.

"The EUR/USD's attention is focused on the resistance situated in the 1.1745/50 zone and the recent peak of 1.1790. This has been the scene of several tests recently.

A close above is needed to cause a move towards the mid-June peak at 1.1853 and the 55-week moving average towards 1.1907.

We continue to believe that the recent low at 1.1301 is a major turning point for the EUR/USD.

The pair will need to fall below 1.1508 to ease the upside pressures."