EURUSD (1.1343): The EURUSD maintains a sideways range with price action turning flat for the past few daily sessions. The common currency touched down to the support level at 1.1315 – 1.1300 briefly before pulling back higher. However, with the strong consolidation, we expect that the support could eventually pave the way for further declines in the near term. A strong close below 1.1315 – 1.1300 could signal a drop down to 1.1220 level to re-establish support. To the upside, the trend line which is currently being followed needs to be breached to confirm the upside.
