EURUSD (1.2193): The EURUSD continues to extend the declines with price closing at a one month low yesterday. The declines following the breakdown below 1.2260 level saw price drifting lower. The downside target remains at 1.2090 which could be tested sometime over the next week and closer to the ECB meeting. In the near term, we expect to see any short term rebound in prices stalling near 1.2260 where resistance could be established. The bias remains to the downside unless we see a reversal above 1.2260. In this case, EURUSD could be seen testing the major resistance level near 1.2230 level.
: The EURUSD continues to extend the declines with price closing at a one month low yesterday. The declines following the breakdown below 1.2260 level saw price drifting lower. The downside target remains at 1.2090 which could be tested sometime over the next week and closer to the ECB meeting. In the near term, we expect to see any short term rebound in prices stalling near 1.2260 where resistance could be established. The bias remains to the downside unless we see a reversal above 1.2260. In this case, EURUSD could be seen testing the major resistance level near 1.2230 level.){kind=link}