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Analysts: EUR/USD prospects

Commerzbank: EUR/USD current strength is expected to terminate ahead of the 78.6% Fibonacci retracement at $1.3275. The market stays bid above $1.3000 and loss of this zone is needed to re-target the $1.2755/40 recent low and April low.

Global Markets Research: We maintain that these supportive flows for the euro will ebb away and that EUR/USD will turn lower. $1.3240-1.3260 is a range of resistance and then the trendline from the February and June highs comes in at around $1.3330. If these were broken, a reappraisal of forecast levels would be required.

UBS remains bullish: With the trending and momentum indicators pointing higher, focus is on further upside. Key resistance is at $1.3417. Support is at $1.3134 ahead of $1.3052.


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