EURUSD (1.2417): The euro currency was seen briefly posting a fresh monthly high at 1.2476 on the day before giving up most of the gains. Price action was bearish following the strong gains from Monday. On the 4-hour chart, price action was seen drifting back to the breached resistance level at 1.2363. A retest of this level could confirm the support that could keep the EURUSD biased to the upside. However, with momentum easing, there is scope for the EURUSD to slip back below this level in the medium term and could enter back into the range that it maintained.
