EUR/USD positive above 1.1543 – Commerzbank

In view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair’s stance remains bullish while above 1.1543.

Key Quotes

“EUR/USD last week eased back to and recovered off its near term uptrend at 1.1737: Nearby support is provided by the accelerated uptrend at 1.1737 and the 5 month uptrend at 1.1543. While above here, there is scope for further gains. Initial resistance is found 1.1850. Resistance above the 1.1910 recent high lies at 1.2040, the 2012 low, then 1.2170, the 50% retracement from the move down from the 2014 high”.

“Below 1.1737 lies the recent low at 1.1688”.