EURUSD (1.2297): The EURUSD was seen retracing its declines following Friday’s doji pattern. The rebound to the upside could see a follow through in the short term with the potential lower high being formed on the current retracement. Resistance is seen near 1.2333 – 1.2363 level which could see price posting a reversal. This could potentially pave way for further declines to the initial support level at 1.2090 – 1.2070. Alternately, in the event that EURUSD breaks above 1.2363, we could anticipate further room to the rally above the resistance level.
: The EURUSD was seen retracing its declines following Friday's doji pattern. The rebound to the upside could see a follow through in the short term with the potential lower high being formed on the current retracement. Resistance is seen near 1.2333 - 1.2363 level which could see price posting a reversal. This could potentially pave way for further declines to the initial support level at 1.2090 - 1.2070. Alternately, in the event that EURUSD breaks above 1.2363, we could anticipate further room to the rally above the resistance level.){kind=link}