EURUSD (1.1987): The EURUSD was seen closing weaker on the day as price action fell to a fresh 4month low at 1.1954. The decline to this support level coincided with the support level that was established in late November 2017. Price action has remained slightly volatile after slipping to this level. In the near term, we expect to see the EURUSD consolidate around this level of support before possibly posting a rebound. The resistance level at 1.2090 – 1.2070 remains as a key level to the upside and therefore, the EURUSD could remain range bound within these levels.
