EURUSD has been consolidating gains within the 1.2077-1.2150 restrictive area since rising to a two-year high of 1.2176, kindly supported by the red Tenkan-sen line. Despite the neutral mode, the pair does not seem to be in a troubled zone, but appears to be in a pause after a steep rally that will likely see a continuation towards the 1.2240 barrier if the 1.2150 resistance gives way. The upper surface of the ascending channel would be another important obstacle around 1.2300 if the bulls keep the lead higher. The momentum indicators cannot exclude the above scenario as the RSI, although weaker, is refusing to post ... (full story)