Looking at the economic agenda for the London session ahead one should think another quiet session is around the corner, though with such extreme low liquidity given summer time holidays in Europe and London Olympics in the middle of the final series, any unexpected headline coming from nowhere could make things change in the blink of an eye. Still, no major sovereign debt auctions are scheduled from the EZ, and troubled countries Spain and Italy's 10y yields stay on check right below the 7% in the Spanish case and right below the 6% for his Latin neighbor.
Italy will publish its trade balance, and the EU the ECB monthly bulletin at 08:00 GMT, followed by Greek unemployment 1 hour later, and that will be about it in the EUR related risk events front for this Thursday in Europe.
Immediate resistance to the upside for EUR/USD comes at recent session/Friday's highs 1.2387/90 (0.5 Fibo retrace of last leg down 1.2440/1.2325), followed by yesterday's highs at 1.2402, and current week's highs Monday/Tuesday at 1.2442. For the downside, closest support shows at Monday's lows 1.2340, followed by yesterday's lows at 1.2325, and July 11 high at 1.2290 (0.38 Fibo retrace of 1.2041/1.2442 and 0.5 of 1.2130/1.2442)