As the EUR/USD is accelerating after breaking above the 1.2750 June high. The rally in the euro against the US dollar is on the back of both QE3 expectation for the Fed, which pressures the US Dollar, and hope surrounding the bailout plans in the eurozone, which lifts demand for the euro. EUR/USD is pushing towards very key levels around 1.30. The 1.30 handle is a psychological resistance, and the 1.2970-1.30 area was support for a consolidation period from February to May this year. As the market becomes a bit overbought in the short-term, the pair should find resistance here ahead of the FOMC policy meeting ... (full story)