EURUSD (1.2326): The euro currency was seen giving up the gains for the second day as price fell to session lows of 1.2334 marking a three-day low. On the 4-hour chart, price action was seen slipping below 1.2363 which marked the breakout from the triangle pattern. Further declines could potentially invalidate the upside bias in price. In the near term, we expect a retest of 1.2363 level following which, if the resistance level holds, the euro could be seen posting stronger declines. Support is seen at 1.2180 which could be tested to the downside if the resistance level at 1.2363 holds up.
