EURUSD (1.1745): The EURUSD currency pair was seen closing bearish on Tuesday as price action fell back to the support level of 1.1730. With the daily chart signaling a hidden bearish resistance, a break down below the support level could signal further declines. As price trades outside the minor rising price channel, the support level is likely to be critical. In the near term, we expect the EURUSD to maintain the range between 1.1846 – 1.1825 level of resistance and 1.1730 support. The pending retest of support at 1.1610 – 1.1577 is most likely to be the downside target in case the support gives way.
