Forex Flash: EUR/USD begins to trace fresh range – RBS

FXstreet.com (Barcelona) - According to Technical Markets Strategist William Moore at RBS, "The EURUSD managed to break out of the short term range we had anticipated on earlier in the week, by breaking through the 1.2806 level, however we are still confident that ranges are going to continue to hold into the end of the year and the next level that looks to be the important one to hold the next is 1.2906 which is the 76.4% retracement of the July - September rally."

According to Moore, "So look to begin to fade again today around the 1.2906 level. Stop losses can be tight through the former support line from lows in September and October - this line intersects today around the 1.2930 level."