Post- US data lows at 1.4920 and supply was not impressive enough to hold it below 1.4955 and EURUSD headed north once again to stick around the key daily close level at 1.4982 on 24/11/2009.

I think  1.4920-1.4990  may be our range  in Asian session this morning  with good sell on rallies  supply around 1.4985-1.50.

1.4949 (23.6% Fibonacci level of 1.4626 to 1.5048)  and 1.4921 ( bottom of the bullish trend channel on 120 mins.) are two key intraday supports while 60  and 120 mins. charts suggests an intraday level at 1.4989-91 area. I think any daily close test rallies to 1.4982 should be capped above there in a bearish EURUSD sentiment.

An intraday break of 1.4925 is an important reversal which suggests a drop to 1.4785-95 area while a daily close below 1.4850 ( what  all the bears eyeing at the mom including me) suggests a quick drop down to 1.4565 with downside momentum ( fresh short positions) building  up.

A daily close above  1.4978  on the other hand  signals a break out and targets 1.5065 and 1.5215 accordingly.