EURUSD (1.1943): The EURUSD rallied to briefly test the 1.1954 handle before slightly retreating back. The currency pair managed to close at a 3-month high at 1.1941. The gains came amid a weaker U.S. dollar. On the 4-hour session, the currency pair was seen closing above the 1.1920 handle which could now come in as support. Establishing support at this previous resistance level is likely to signal further gains in the near term. However, this comes at a risk that the currency pair might close below the level in which case the sideways momentum could still be maintained. The next lower support comes in at 1.1843 – 1.1822 level.
