EURUSD (1.2378): The EURUSD was bearish yesterday as the currency pair failed to breakout above the resistance level established at 1.2400. Price action was seen testing intraday highs of 1.2411 before giving up the gains. The declines were however met with another reversal with the common currency now attempting to retest the resistance level once again. Unless the EURUSD posts a breakout above 1.2385, we expect to see price action trading below the resistance level and continuing to maintain the sideways range.
