Forex Flash: EUR/USD weekly close above 1.3564 opens doors to 1.3883 - Commerzbank

FXstreet.com (Barcelona) - Having traded through the 55 month moving average at 1.3564 and the top of the daily channel at 1.3590, Commerzbank analysts need to see a weekly close above here to confirm the break, but acknowledge while above the short term uptrend at 1.3425 the market is bid. “Nearby support is 1.3435 – below here lies 1.3250 and then the base of the channel at 1.3170”, wrote analyst Karen Jones. “Key support is 1.3086 – the 6 month uptrend.Note should a close above 1.3564 be seen (we would need a weekly close above here), we have very little resistance of note until 1.3833, the 61.8% retracement of the move down from the 2011-2012 move”, Jones added.

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