EURUSD (1.1368): The EURUSD currency pair posted strong losses on Wednesday as price action failed to breakout above the 1.1461 level of resistance. The minor trend line was breached invalidating the bullish ascending triangle pattern. The break down from the rising trend line saw the Euro currency testing lows of 1.1305 before recovering. The current rally off the lows near 1.1305 could see the EURUSD retesting the breakout level from the trend line. As long as the gains are capped here, we expect further declines down to 1.1275 level.
