EURUSD (1.1344): The EURUSD currency pair has been consolidating within the range of 1.1435 – 1.1300. The attempt to test this resistance saw price action closing lower. We expect the EURUSD currently test the lower support area around 1.1315 – 1.1300. A reversal off this support level will mark a retest of the breakout from the falling price channel. A rebound in price action could mean that the euro could once again test the resistance level. A breakout from the resistance area is required for the common currency to post further gains.
