Commerzbank believes that the euro will be stopped at 1.12

According to analysts at Commerzbank, upward momentum of the pair above 1.1200 could disappear. They say that the rally in EUR/USD looks more like targeted and it reached resistance at 1.1123, a minimum of August and September.
Above 1.1203, which is a 6-month resistance line, next level of resistance is at 1.1217. This level should keep the bulls and provoke failure, analysts say.
Falling below this level indicates that the 20-day moving average is at 1.1000 and initial support is at 1.0950 levels and 1.0821, the minimum from March, they added.
Currently lows should stay above 1.1060. If the market fails to close above 1.1203/17, it can eliminate the downward pressure, which  would lead to further rise to 1.1366, the maximum form August 2016, the experts wrote.