The euro continues to post fresh intraday trading highs against the greenback, with price-action reaching an overnight high of 1.2345, as the U.S dollar index comes under slight selling pressure. The EURUSD is now trading around the 1.2320 level, after falling back below the 1.2334 level, with the pair still retaining a bullish bias whilst price-action holds above the 1.2305 support level. Traders also remain cautious, ahead of the release of today’s key CPI inflation report from the United States economy.
The EURUSD pair retains a bullish bias whilst trading above the 1.2305 level, with further gains towards the 1.2367 and 1.2400 levels seems possible.
Should the EURUSD pair move below the 1.2305 level, sellers will likely target the 1.2278 and 1.2239 support levels.