On the upside, a bullish break above 1.2873, could trigger another upmove, says Jones: "EUR/USD remains near term bid and further gains to 1.2925/65 then 1.3030/50 remain likely near term. Currently the rally is approaching the 38.2% retracement at 1.2873 and a break above here is likely to prove another upside trigger."

On the downside, Jones points out to 1.2750/30 and 1.2588: "Interim support at 1.2750/30 guards the 1.2588 recent low then the 1.2523/1.2490 zone, which represents the mid-July low and the June peak."

Fri, Sep 3 2010, 07:11 GMT
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