EURUSD (1.2436): The EURUSD extended gains to post a fresh 4-year high as price action was seen clearly rising above the 1.2300 level of resistance. At the time of writing, the EURUSD extended gains to trade near 1.2436. The strong gains came on the back of a weaker U.S. dollar. On the 4-hour chart, price action is seen trading near the outer median line which could offer some type of dynamic resistance level. A reversal at this level could signal a near term decline as price could be seen correcting to 1.2281. The ECB’s meeting will be the main catalyst for the price action in EURUSD today.
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