The EURUSD broke higher on Tuesday due to news and rumors out of Europe.  A board member from the ECB endorsed an unlimited bond purchase program to tackle the debt crises and it was rumored that Greece may get an extension to meet its budget targets.  Both pieces of info are interesting but really don't change the situation at hand.  But It appears that traders are happy with any news to spark volatility in thin summer trading.

The pair in now firmly above past resistance at 1.2440.   A hold above this level opens up a test of 1.2560 followed by daily trend line around 1.2460.  A push back below 1.2440 could open the pair up to a move back down towards 1.2330.

Sup   1.2440              1.2330

Res    1.2560            1.2660

Keane Plan....Looking fo a move back down towards the 1.2440 area.  Price action could be telling at that level

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