EURUSD (1.2185): The EURUSD posted strong declines yesterday as price fell to a two day low. The declines come following Tuesday’s doji candlestick pattern that was formed. On the intraday charts price action is seen currently trading near the median line which could offer dynamic support in the near term. We expect to see a short term bounce following which price action could be pushing higher to form a lower high. As long as the previous highs are not breached, EURUSD is expected to reverse the gains targeting the support level at 1.2090 – 1.2070 support level.
