EURUSD (1.1978): The euro touched fresh highs at 1.2069 yesterday, filling the gap from January 2015. With price action pulling back off the session highs, we could expect to see some retracement in the near term. Price could potentially consolidate near 1.2000 handle before we can expect to see some declines. A near-term bounce could see EURUSD retest the 1.2000 resistance level while support is seen at 1.1882 and 1.1825. Further gains could be seen coming, but with the Friday’s payrolls report and next week’s ECB meeting, the common currency could head into a period of consolidation.
