EURUSD (1.1465): The EURUSD currency pair is seen extending declines for six consecutive days. Price action briefly posted a rebound off the support level near 1.1547 – 1.1525. However, failure to follow through this rebound has pushed price action lower. The next downside target is seen at 1.1435. However, we expect that this support level is unlikely to hold the declines. In the near term, any rebound off the lower support could push the EURUSD to maintain a range within 11547 – 1.1525 and the support at 1.1435.
