EURUSD (1.1612): The EURUSD currency pair was slightly bullish but price action was muted overall. The rather slow momentum following the bounce off the support level at 1.5400 could come at a risk of another decline to the downside. Price action on the 4-hour chart shows that there has been a retracement. However, while the currency pair is still trading within the range of 1.1730 and 1.1540, there is scope of a reversal. If the bearish short-term trend resumes, there is a potential for prices to break past the support level.
