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EUR/USD is trading closer to 1.20, a two-year high. In the long-term, a close above 1.2015 would target 1.2630 the 200-month ma, according to Commerzbank’s Karen Jones.

Key quotes

“EUR/USD is heading back up towards 1.2014 TD resistance, please note that we also have a TD perfected set up on the weekly chart and we suspect that the market may start to struggle shortly. Only a close above 1.2015 will introduce scope for further gains to 1.2630, the 200-month ma.” 

“Provided that dips remain well supported by the three-month uptrend at 1.1686, an overall upside bias is maintained. This guards the March high at 1.1495. Initial support is the one-month support line at 1.1772.”

 

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