EURUSD (1.1656): The EURUSD currency pair was seen posting strong gains on the day on Friday. With the strong momentum led breakout, price action is expected to eventually reach the resistance level of 1.1730. A retest of this level which failed to hold as support could keep the gains in check. However, a breakout above 1.1730 could potentially push the euro currency towards testing the minor resistance level of 1.1846 – 1.1824 region. This could potentially establish the 1.1730 level as support forming a new higher corridor for the currency pair in the short term.
