EURUSD (1.1650): The EURUSD currency pair drifted lower on Thursday as price action touched intraday lows of 1.1575. However, the currency pair managed to recover to close slightly higher from the open. The consolidation in the currency pair is expected to continue and the rebound off 1.1600 is expected to keep price action supported to the upside in the near term. The resistance at 1.1686 could be tested in the near term. A break above this level is required in order to ascertain the upside bias in the near term.
