EURUSD (1.1722): The EURUSD currency pair was trading subdued on Tuesday with price action confined to the resistance level of 1.1730. As the EURUSD trades within the resistance level of 1.1730 and 1.1610 we expect to see this range breaking in the near term. An upside breakout could potentially signal a correction to the sharp declines seen over the past few weeks. There is a possibility that the EURUSD could retest the main resistance level at 1.2232. To the downside, declines are likely to stall at 1.1610 – 1.1577 level of support.
