EURUSD (1.1840): The EURUSD closed with a bullish bias for the second day following the consolidation above 1.1730 level. Price action is seen once again trading back near the resistance level of 1.1843 – 1.1822 level. The euro had previously declined following establishing resistance at this level. Currently, the retest to the resistance level is likely to coincide with a double top pattern. To the downside, EURUSD is expected to trade within the range above the support level of 1.1710 – 1.1688. A break out from this range will potentially clear the way for the EURUSD towards the next leg in the trend.
