EURUSD (1.1714): The EURUSD currency pair was seen extending the gains on Monday amid lack of any clear fundamentals. The currency pair was seen rising to intraday highs marking a 7-day high. With price action seen approaching the resistance level of 1.1730 and with the 4-hour Stochastics posting a hidden bearish divergence, we expect to see some near-term declines. The support at 1.1610 remains in sight as price action is likely to establish support at this level ahead of further gains. If the EURUSD breaks out above 1.1730, then we expect to see the gains extending to the next resistance level of 1.1846 – 1.1824.
