EURUSD (1.1511): The euro currency was seen posting modest gains on Thursday. Price action, however, is settled below the resistance level of 1.1547 – 1.1525 level. Some consolidation is expected below this level, but we expect the common currency to extend the gains down to the next lower support at 1.1435. The bias remains to the downside for the moment. If the EURUSD fails to hold on to the support at 1.1435, we expect the declines to push the currency pair further down to 1.1315.
