Commerzbank analysts tend to believe that the euro will test the upper limit of range

Commerzbank analysts suggest that there is still potential for EUR/USD to test areas around 1.1360. They believe that EUR/USD is trading in the range and the couple is ready to get out of the line of resistance at 1.1287. This will strengthen the determination of bulls and the couple will head to 1.1366, the peak of August, analysts say.
Only an unexpected rise above this level will open the way for a move to 1.1416/65 - highs from mid-April and June, they added.
In order to ease the current bull pressure, it is required the couple to get back in the zone of 1.1190, which keeps 1.1123 - low of August 31, said analysts of the bank. They expect that this support will hold, but not exclude a jump to the area of ​​1.1366. A break below 1.1123 opens the way for a test of support at 1.0992 and lows of June and July, at 1.0952/12.