Forex Flash: EUR/USD focus shifted to resistance at 1.3173/80 - Commerzbank

FXstreet.com (Barcelona) - The focus has shifted to overhead resistane at 1.3173/80 as target (recent high and a double Fibonacci retracement): “ We remain wary of initial failure here, the market will need to clear this key resistance in order to introduce scope to 1.3487/1.3536 (2012 high, the 50% retracement and the 200 week ma), wrote Commerzbank analyst Karen Jones, suggesting a pull back prior to any further gains. Interim support lies at 1.2995/75 (50% retracement). And stronger support is at the 200-day moving average, at 1.2825, and the 1.2814 3 month uptrend, maintaining upside scope while this is intact.

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