The single currency kept advancing from 1.2875. The pair EUR/USD got above November maximum at 1.3786 and closed yesterday near 3-month maximum.

Technical analysts at Commerzbank believe that euro’s moving up towards 1.3978/1.4000 – 78.6% Fibonacci retracement and psychological resistance. At these levels, according to the specialists, the pair is likely to fall.

The bank says that the bullish pressure will ease only below 1.3580 and the EUR/USD go down to December maximum at1.3500 and then to support at the 55-day MA in the 1.3329 area.



Chart. H4 EUR/USD

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