EUR/USD: the euro isn't showing any clear tendency right now (Commerzbank)

According to Karen Jones, an analyst at Commerzbank, the EUR/USD remains broadly flat, moving horizontally, but the bank sees the formation of a potential base, with initial upside resistance at its 6-month resistance line at 1.1454.

"Just above here is the 200-day moving average at 1.1505. The euro-dollar has not yet wiped out the 100-day moving average at 1.1388, but we hope it will remain supported by the November low at 1.1216. We continue to favour a bullish recovery. Above the 200-day moving average, we will target gains at 1.1667, the mid-October high."