EURUSD (1.1672): The EURUSD has been inching higher gradually over the past four sessions. Price action remains steady near the main resistance level of 1.1672 region. The rally back to this level invalidates the bearish flag pattern. The bounce off the support level near 1.1552 suggests that EURUSD could remain caught in the range. However, a breakout above 1.1688 could suggest a retracement in price with further gains expected above this level. To the downside, the risks are limited unless EURUSD manages to breach past the previous support level that has been established.
