EUR/USD analysis (July 01st 2011)

The Euro remains well bid after its break above previous high at 1,4440. We now see a potential towards June high near 1,47.

EUR/USD : 4-hour chart

We might see some consolidation going forward with the long week-end in the US coming up (market are closed on Monday July 4th) but a break above yesterday’s high at 1,4540 would accelerate the move to the upside.

Only a break back below 1,4440 would concern over the short term.

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