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Commerzbank: EUR/USD will advance to 1.4535
Technical analysts at Commerzbank note that as the European currency has broken above 1.4010 trading versus US dollar, it will be able to climb to 1.4318 and 1.4535 levels representing the resistance line drawn from the 2008 peak, a long-term double Fibonacci level and the 1995 maximum.
According to the specialists, bullish pressure on the pair EUR/USD will ease only if it falls below 1.3717.
JPMorgan: recommendations on major currencies
Analysts at JPMorgan claim that the rising energy prices have driven a wedge between the central banks that target headline inflation and those which prefer watching core inflation.
As a result, the bank recommends buying the European currency, though very selectively (versus Japanese yen, for example) trying to make out how much ECB tightening is already priced in its rate. The bank advises to stay long on currencies that appreciate due to the economic strength (Swiss franc) and remain short on those currencies where the economies cannot validate overblown monetary expectations (British pound).
JPMorgan also favors Canadian dollar versus its Australian and American counterparts.