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EURUSD Intraday Analysis

EURUSD (1.2459): The EURUSD was seen posting strong gains yesterday as the common currency maintained gains for three consecutive sessions. Price action recovered back to the 1.2450 handle as it breached the resistance level of 1.2363 – 1.2333 region. However, a follow through is required for the currency pair to maintain the upside trend. Near term dips towards 1.2363 could see support being established which could signal the upside bias. In the event that EURUSD breaks below this level once again, we expect the declines to resume.

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