EURUSD (1.2307): The EURUSD rose to intraday highs of 1.2344 before giving up the gains. Price action remained weak on the day. However, the common currency is looking to post some gains in the early Asian trading session. We expect the euro to remain subdued below the 1.2363 level of resistance in the near term. Any gains are likely to be capped near the resistance level with the potential for a reversal expected to keep prices range bound below 1.2363 region.
