EURUSD has bottomed on daily chart

Key resistance at 1.2706 is broken above, EURUSD has bottomed at 1.2457 on daily chart. Further rise above 1.2978 (the day high of June 5, 2006) is possible in next several weeks. For long term analysis, EURUSD is bottoming on weekly chart, key resistance is at 1.2978, a break above this level may signal the long term bullish movement, and this bullish movement would last several months.