NEXT EURO UPMOVE ABOVE 1.2344 LEVEL
The euro continues to maintain upside pressure against the U.S dollar, with price-action still well support above the 1.2300 handle and creating bullish higher daily price-highs. The EURUSD has yet to move above the 1.2344 resistance level, despite other major currencies pairs breaking above key short-term trading ranges. Traders now look toward the release of monthly PPI inflation figures from the U.S economy, with the 1.2382 level the key EURUSD resistance level to watch.
The EURUSD pair retains a bullish trading bias while trading above the 1.2300 level, the 1.2344 and 1.2382 levels remain the key top-side resistance levels to watch.
Should the EURUSD pair decline below the 1.2300 level, price-action will turn bearish, with short-term support then found at the 1.2275 and 1.2252 levels.