EURUSD Analysis, Daily Forex Analysis, July 16th 2010

By IBTimes Staff Reporter | July 15 2010 10:23 PM

EURUSD breaks above the upper boundary of the rising price channel on 4-hour chart and the rise from 1.1876 (Jun 7 low) extends to as high as 1.2954 level. Further rally is still possible later today and next target would be at 1.3100 area. Support is at 1.2860 followed by 1.2800, as long as these levels hold, uptrend could be expected to continue.

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