EURUSD (1.2328): The EURUSD gave up the gains yesterday as the ECB minutes proved to be dovish. Price action was however contained within the price levels of 1.2400 and 1.2250. The euro fell to the lower bound briefly testing the support at this level before bouncing back higher. We expect this range to continue in the short term. However, with support likely to stall the declines at 1.2250, there is scope for the EURUSD to potentially push higher. A breakout from the rang will establish further direction in price.
