EURUSD (1.1424): The EURUSD gave up the gains from earlier this week as price action retraced back to the breakout level of the falling trend line. Currently, the price is supported by the 20-period EMA and the horizontal support area. As long as this support holds, we expect the currency pair to be biased to the upside. However, if the EURUSD slips back lower, we expect the declines to push the common currency back to the lower support level of 1.1315 – 1.1300.
