EURUSD (1.1770): The common currency was seen posting some modest gains following through from last Friday’s bullish close. However, price action remains limited at the moment as EURUSD approaches the 1.1800 handle. On the 4-hour chart, EURUSD has managed to post a breakout from the falling wedge pattern. A continued upside momentum could see EURUSD testing the previous resistance at 1.1822. A reversal at this level could, however, see the possible bearish trend being resumed. Meanwhile, in the short term, expect EURUSD to remain range bound within 1.1822 resistance and 1.1720 support.
