Forex Flash: EUR/USD biased to the upside - Commerzbank

FXstreet.com (Barcelona) - Commerzbank analysts are slightly more biased to the upside, pointing to support at 1.3000/1.2995 on dips lower, ahead of key support at 1.2865/35 (200 day ma and uptrend), while the EUR/USD gets ready to challenge the 1.3173/80 resistance (this is the recent high and double Fibonacci resistance), and possibly to break through this resistance, according to technical indicators. “Above 1.3180 will introduce scope to 1.3487/1.3531 (2012 high, 50% retracement and the 200 week ma)", wrote analyst Karen Jones.

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