Tue, 14 Aug 2012 07:07:15 GMT
EUR/USD's rally is extending
EUR/USD has managed to overcome 1.2319/37 and is presently headed towards resistance at 1.2383/96, where the price is likely to reverse current bullish tendency and resume moving downwards. In case the latter level does not withstand, 1.2473 and 1.2519 will also attempt to stop the pair. The key zone lies at 1.2578/1.2633 and should cap EUR/USD in the medium-term.