EURUSD (1.2362): The EURUSD currency pair extended gains for the third consecutive day, rising to a fresh two week high. Price action is likely to continue to the upside extending the gains toward the resistance level seen at 1.2385. A retest of this resistance level is likely to keep price action range bound within the lower support level of 1.2300. We therefore expect to see the EURUSD maintain a sideways range in the near term.
