EURUSD (1.1531): The Euro currency was seen losing to the U.S. Dollar as the sideways range continues its grip. The EURUSD was seen erasing most of the gains logged from Tuesday and Wednesday. The declines coincided as price action briefly touched the short term resistance level at 1.1626. A new short-term range between 1.1626 and 1.1540 is being established. With the failure to make any progress beyond 1.1730 resistance level, the Common Currency is at risk of a potential downside breakout below 1.1540.
