EURUSD broke above 1.2360 resistance, suggesting that the downside movement from 1.2555 had completed at 1.2155 already. Further rally is still possible after a corrective pullback and next target would be at 1.2500 area. Near term support is at 1.2295, a breakdown below this level would indicate that correction for the uptrend is underway, then the pair would find next support level at around 1.2230. The key support is at 1.2155, only break below this level could trigger another downside movement towards 1.2000.
