EURUSD (1.1372): The EURUSD currency pair has been bouncing off the support level at 1.3150 – 1.3100 region. Price action is seen respecting the falling trend line, but overall, the common currency is expected to maintain the sideways range. The resistance level at 1.1435 remains a key level of interest which could be tested in the near term. There is a risk that the EURUSD could break below the support level. This could potentially pave the way for further declines as the common currency could be seen targeting 1.1220.
