EURUSD (1.1827): EURUSD posted strong gains yesterday as investors were seen bidding up the common currency. The euro closed at a three day high and was seen extending the gains in the early trading session today. Price action was seen retesting the resistance level of 1.1822 which also marks the test of the falling trend line level. A breakout above this level is required for EURUSD to post further gains. However, it is unlikely for the euro to post further gains in the near term. The sideways range could be maintained within 1.1822 and 1.1710 levels of resistance and support.
