Last week EUR gained further ground against the greenback and established a 2 months high at 1.29. Currently, the pair has embarked on a retracement move down, trading around 1.2840 at the time of this writing. The broad trend remains bullish, with weekly studies suggesting a probable move above 1.29 soon, followed by a test of the yearly high at 1.2979. The daily charts favor some pullback, with 1.2826 (50% ret. of the recent 1.2750 - 1.29 move and 20MA on 4h) and 1.2809 (61.8% of the same move and previous resistance) as first targets. As long as EUR holds above 1.2750, the mid-term bullish outlook remains intact. Indicators look bullish on both daily and 4h studies. Strong support is formed just below 1.28 by the lower mid-term channel trendline visible on 4h (currently at 1.2789) and the 50 days MA at 1.2780. Against this background, we consider the lower 1.28 area as a good buying level, for targets at 1.2905 and 1.2970.