EURUSD (1.1411): The EURUSD currency pair turned bullish on the day as price action posted a strong reversal. The common currency rallied promptly after price action fell to the lower support area of 1.1315 – 1.1300 region. The rebound, however, keeps price action contained below the major resistance level of 1.1435. As long as price action is below this resistance, we expect to see a sideways range being maintained. On the 4-hour chart, the EURUSD is seen posting a hidden bearish divergence which could push the price action lower if the resistance level is not breached.
