EURUSD (1.1971): The euro broke fresh highs yesterday as prices closed at 1.1977. The rebound came after a modest retracement, but price action turned bullish quite quickly. EURUSD looks to be all set to test the $1.2000 handle in the near term. However, the risk of a short term decline could see the common currency testing the support level at 1.1882 and 1.1824 levels. The bias in the EURUSD remains strongly supported to the upside until the gap around 1.2000 will be filled. This is likely to mark the end of the bullish rally in the euro before we can expect to see some kind of a pullback in prices.
