April 24th, 2009

EURUSD remains in a medium term consolidation pattern of the 1.2455-1.3788 rise, as only a daily open and close above 1.3248 or below 1.2890 will complete this pattern and see further price extension in the direction of the break. As to the intraday outlook, prices will continue to move higher with 1.3248 as the next objective while 1.3100 should limit any downside attempts.