EURUSD (1.1607): Price action in EURUSD was muted as the overall price trend turns flat. EURUSD has been moving sideways for nearly seven consecutive days following the declines below the 1.1700 support level. On the 4-hour chart, following the breakout from the bearish flag pattern, EURUSD was seen turning bullish with a bullish engulfing pattern on the 4-hour chart. This could suggest some near term upside. However, with price supported above the 1.1573 handle, there is a strong potential for the bearish flag pattern to be invalidated. Still, EURUSD is expected to maintain its range within 1.1688 and 1.1573 levels of resistance and support.
