EURUSD (1.2382): The U.S. dollar weakened which helped to keep the euro posting gains for two consecutive days. The EURUSD was seen advancing back to the resistance level of 1.2363 – 1.2333 level in the overnight trading session. A reversal at this resistance level could signal a near term dip with the potential for the common currency to advance the declines towards the 1.2090 – 1.2070 level of support to the downside. Alternately, if price action manages to break past the resistance level, we could expect to see a new leg to the rally. This will be validated on a breakout above the previous highs posted near 1.2500.
: The U.S. dollar weakened which helped to keep the euro posting gains for two consecutive days. The EURUSD was seen advancing back to the resistance level of 1.2363 - 1.2333 level in the overnight trading session. A reversal at this resistance level could signal a near term dip with the potential for the common currency to advance the declines towards the 1.2090 - 1.2070 level of support to the downside. Alternately, if price action manages to break past the resistance level, we could expect to see a new leg to the rally. This will be validated on a breakout above the previous highs posted near 1.2500.){kind=link}