Gold in euros ( XAU/EUR) continues to trend higher towards its measured target of 1100, notes Bank of America Merrill Lynch.
"While this could be a near term sticking point, on a longer term basis XAU/EUR has significant topside," BofA adds.
"Indeed, the Gold (in USD) break above 1255/1253 resistance (Oct-21 high and the 200d); clears the way for 1345 and beyond," BofA projects.
Meawhile, with the break of 1.2000 in EUR/CHF, BofA reiterates its bearish EUR view.
"EUR/USD could see a pause into 1.1555/1.1500 support, but bounces should be sold. Gains should not exceed 1.1767/1.1841. We continue to target 1.1212 (61.8% of the 2000/2008 advance) ahead of 1.0588/1.0283," BofA advises
Meanwhile BofA remains short EUR/GBP for 0.7582, ahead of 0.7539 and potentially below.