EURUSD (1.1650): The EURUSD currency pair was seen extending its declines following the failure to break past the resistance level on Tuesday. Price action reversed the gains and is seen trading near the previous lows formed. On the 4-hour chart, the currency pair is expected to test the minor rising trend line which is likely to form an ascending triangle. A rebound off this rising trendline could signal nearterm gains which can be confirmed on a close above 1.1688. Still, the Common Currency will need to break past 1.1742 to confirm the upside.
