Although the single currency rebounded briefly from 1.2261 to 1.2388, subsequent retreat suggests further choppy sideways trading would be seen, however, breach of said support is needed to signal decline from 1.2490 top to retrace upmove from 1.1876 has resumed and bring re-test of 1.2209 support.    On the upside, above 1.2388 would extend gain to 1.2410/20, however, daily resistance at 1.2490 is expected to remain intact.