EURUSD (1.2302): The EURUSD managed to post a modest rebound yesterday closing on a bullish note. However, the gains look to be short lived as price action earlier this morning shows a reversal. This coincides with the rally to the resistance level at 1.2363 – 1.2333 level. As long as the resistance holds, EURUSD could be seen posting further declines targeting the immediate support at 1.2090 – 1.2070 region. Price will of course need to close below the previous lows at 1.2213 from February 9th.
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