EUR.USD July 4, 2010- Looking for some more upside

Traders should be extremely vigilant when the EUR/USD approaches the major support and resistance levels identified on the monthly chart. Of immediate interest though is that we have two fairly strong support levels at 1.2444 and 1.2399. I personally expect a minor correction to a level just above 1.2444. A bounce of either of these levels should propel the EUR/USD to 1.3 relatively quickly.

Sanjeet Parab