EUR/USD: the 1.18 resistance zone remains exposed this week (Commerzbank)

Commerzbank believes that the EUR/USD could quickly return to test the 1.18 area.

"Last week the EUR/USD rose briefly to 1.1803 before falling below the July peak at 1.1790.

The 1.1790/1.1803 resistance zone should hold today, but during the week, it will likely still be exposed.

A close above 1.1803 would trigger a move towards the June peak at 1.1853 and the 55-week moving average at 1.1904.

A minor support level is at 1.1750/34. The EUR/USD remains bullish above the short-term support line around 1.1637."