EURUSD (1.2260):The EURUSD reversed losses yesterday as the currency pair once again turned bullish. However, the gains were limited within Wednesday’s trading range. Further upside gains could be capped near the 1.2280 – 1.2290 level where resistance could likely form. A reversal at this level could signal a downside correction in the common currency. Support at 1.2090 – 1.2070 remains in view if the EURUSD manages to break past the previous lower reversal point at 1.2180. The currency pair could maintain this range going into next week’s ECB meeting on Thursday.
