EURUSD (1.1759): The EURUSD weakened slightly yesterday, but price action was subdued, trading within the confines from Monday’s range that was established. After rallying towards the highs from 11 August, EURUSD gave up the gains as the price fell back. The decline coincides with the upside breakout from the ascending triangle. The current retest of this breakout level could see price attempt to make another move to the upside. However, further gains are likely to be limited. This potentially keeps EURUSD range bound with support at 1.1688 in focus. A breakdown below this support will extend further declines in the currency pair. To the upside, the previously established range remains in place at 1.1882.
