EURUSD (1.1586): The EURUSD currency pair test the resistance area of 1.1656 – 1.1626 region. Price action failed to break past this level moving back lower. We expect to see the downside continue as the common currency is expected to retest the lower support at 1.1540. The larger triangle pattern could signal a downside breakout to 1.1418 if the support at 1.1540 gives way. To the upside, the EURUSD needs to clear the resistance area convincingly in order to post further gains.
