Forex Flash: EUR/USD with attention and pressure on the topside - Commerzbank

FXstreet.com (Barcelona) - Trading withing the 1.3250-1.3400 zone for so long last week leaves attention and pressure still on the topside: "Above 1.3405, we look for gains towards tough long term resistance at 1.3485/1.3560 this is the location of the 2012 high, a double Fibonacci retracement the 200 week moving average and the 55 MONTH moving average. We look for this to hold the topside and provoke failure", wrote analyst Karen Jones, while below 1.3250/00 support, the market would range and head back to the base of the channel at 1.3091, with key support at 1.3048 - the 6 month uptrend.

"Should a close above 1.3560 be seen (not favored) we have very little until 1.3833, the 61.8% retracement of the move down from the 2011-2012 move", Jones added.