EURUSD (1.1398): The EURUSD currency pair was seen drifting sideways following the test of the resistance level at 1.1435 – 1.1460 level. Price action attempted to post a modest rebound forming a lower high. We expect another attempt to test the resistance area. Failure to break the resistance could keep the common currency range bound. However, this increases the risk of a downside retest back to the support area. The retest at 1.1315 – 1.1300 could mark a test of support and the breakout from the falling trend line.
