EURUSD (1.1760): The EURUSD currency pair was seen giving up the intraday gains to close bearish once again. However, price action remains supported above the support level of 1.1730 for the moment. We expect to see another retest to the support level at 1.1730 following which there is a possibility for the EURUSD to push higher. Price action will need to break the short term resistance of 1.1846 – 1.1824 level in order to confirm the upside correction. In the event of a break down below 1.1730, we expect to see further losses to set in.
