EURUSD (1.1671): The euro currency extended the gains from last Friday as price action closed bullish following the bounce off the support level at 1.1540. Price action is seen trading at the resistance level of 1.1686 level by Monday’s close. The strong gains posted is likely to see a near-term correction in price action. To the downside, the initial support is found at 1.1626. A break down below this level could trigger further declines to 1.1540 which is also pending a retest of support.
