EURUSD (1.1324): The EURUSD continues to consolidate with price action seen extending the declines. The common currency could be seen retesting the support area of 1.1315 – 1.1300 level. We expect a rebound off this level as the ranging price action is maintained. Failure to hold the declines at the support level could, however, push the EURUSD lower. This would open the way for price action to fall back to test the previously established lows at 1.1220.
