EURUSD (1.1322): The EURUSD currency pair was seen attempting to recover some of the gains but price action gave up to extend the losses. The common currency closed the day with declines and a bearish engulfing pattern. This suggests potential declines as price action is likely to extend down to the 1.1200 level of support in the near term. The modest rebound seen at 1.1366 is likely to turn as resistance in the near term with any short-term gains likely to come above this level.
