EURUSD (1.1787): The EURUSD currency pair fell to the major support level at 1.1730 before the currency pair managed to bounce back strongly. Despite the rebound in price action, we expect the common currency to continue showing weakness around this level. However, in the event that the EURUSD manages to post a higher low above the support level, then we expect to see a retest of the resistance level formed near 1.1846 – 1.1824 region. Only a breakout above this level will signal further continuation to the upside.
