The single currency extended recent upmove to 2-month high of 1.2723 in European morning and marginal gain above there cannot be ruled out, however, loss of upward momentum should cap price at 1.2765 today and bring a much-needed minor correction later.    On the downside, only a breach of 1.2634 would signal a temporary top is made and yield stronger retracement to 1.2586, however, support at 1.2553 would remain intact.