EURUSD (1.1556): The EURUSD currency pair finally broke out to the upside from the resistance level of 1.1461. Price action is seen attempting to test the next upper level at 1.1575 where resistance is likely to be established. In the near term, there is scope for the euro to erase the gains and retest the breakout level at 1.1461 to establish support. This could potentially pave the way for further gains to the upside. Alternately, a breakout above 1.1575 could keep the bullish momentum going in the euro currency.
