EURUSD’s rise from 1.2150 extends to as high as 1.2777 level. Further rally is still possible later today and next target would be at 1.2900 area. On the other side, the pair is facing the upper boundary of a rising price channel on 4-hour chart, consolidation in a range between 1.2520 and 1.2800 is possible. Support is at 1.2675, below this level will suggest that consolidation of uptrend is underway.

width=400