EURUSD (1.2177): The EURUSD currency pair was seen continuing to post losses yesterday with price seen testing the lower support level of of 1.2180. The losses came amid a brief rally earlier when the EURUSD tested the upper bounds at 1.2250 as noted previously. Price is seen currently consolidating near the 1.2180 level. An intraday rebound toward 1.2250 is expected as the markets head into the ECB meeting. With the upper resistance level at 1.2300 still yet to be tested for resistance, a breakout above 1.2250 could signal a stronger correction to the upside.
