EURUSD might be forming a cycle top at 1.2611 level on 4-hour chart. Range trading between 1.2350 and 1.2611 would more likely be seen in a couple of days. Key support is at the uptrend line from 1.1876 to 1.2150, as long as the trend line support holds, uptrend is expected to continue, only a clear below this trend line could indicate that the rise from 1.1876 is complete.

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20100706_eurusd_1.gif