EURUSD (1.1826): The EURUSD continued to extend the declines with price action falling to fresh lows of 1.1763 on the day. With the resistance level at 1.1960 – 1.1920 holding, we expect to see prices touching down to 1.1730 level of support in the near term. Alternately, the currency pair could maintain the sideways range within the said levels. There is also a potential falling wedge pattern that could be forming near the current levels however, we expect to see another short term local high being formed near the price level of 1.1920. The bias shifts only on a strong close above the resistance level.
