By Mohammed Isah of fxtechstrategy.comEUR-USD: Although there has been some price hesitation, the euro-dollar currency pair's short-term recovery that began at the 1.1875 level (the 2010 low) remains intact -- so long as the the pair trades higher than 1.2721 and 1.2466. For now, we look for the euro-dollar pair to move toward 1.3027, its July 20 high. If it breaks through that level, it should see even more strength, toward its May 10 high at 1.3093. Above there, the pair should target its May 3 high at 1.3310. Alternatively, a violation of the 1.2721 and the 1.2466 levels would halt short-term upside momentum and clear the way for more downside pressure toward the .50 Fibonacci retracement (1.1875-1.2466) at 1.2169 and then 1.2162, the June 14 low. A breach of the latter level would set the stage for further weakness toward the 1.2000 level. Overall, the euro-dollar currency pair remains biased to the upside and looks set to recapture the 1.3000 and 1.3027 levels.