EURUSD (1.1692): The euro rose to a fresh one month high on Tuesday at 1.1733 before partly giving up the gains. Price action briefly tested the resistance level at 1.1730 on the daily session. The rally to the monthly high coincided with the doji pattern on the 4-hour chart with a bearish follow through. A decline could potentially see the euro easing back to 1.1626 where support is likely to be tested in the near term. While price action could maintain its sideways range within the mentioned levels, a break down below 1.1626 could trigger further declines down to 1.1540 level of support. To the upside, a breakout above 1.1730 could push the euro to further gains.
