The single currency went up from the weekly minimum versus the greenback at 1.2625 and managed to consolidate above 1.2800.

Technical analysts at Commerzbank believe that EUR/USD may rise to 1.2925/65 and 1.3030/50 in the near term in case euro overcomes 1.2873 level representing 38.2% Fibonacci retracement.

If the pair declines, support levels will be at 1.2750/30, 1.2588 (recent minimum) and in 1.2523/1.2490 area (mid-July minimum and June peak).

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