EURUSD (1.1773): The EURUSD continued to stay firmly supported above the short-term support level at 1.1730. Price action has managed to bounce off this level, and the failure to break down below this support will now see a retracement back to 1.1800. Establishing resistance here will be critical for the further direction in the currency pair. Above 1.1800, further gains in EURUSD could signal a short-term upside in prices. The next level of interest to the upside will be likely at 1.1900. To the downside, if we see a reversal at 1.1800, EURUSD could remain range bound within the levels, but the bias could shift to the downside. Eventually, if EURUSD breaks below 1.1730, then we can expect to see a decline to 1.1635 support.
