EURUSD Forecast:

The EURUSD attempted to push higher yesterday, topped at 1.2738 but closed lower at 1.2614 and traded around 1.2637 at the time I wrote this comment. The bias is neutral in nearest term but the main scenario remains bearish. Immediate resistance at 1.2690. Break above that area could trigger further bullish correction testing 1.2750 – 1.2800 region. Initial support at 1.2523/00 region. Consistent move below that area should continue the major bearish scenario targeting 1.2300 area in longer term view.

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