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.