EURUSD (1.1393): The euro currency was seen retracing the losses on Thursday. Price action managed to recover only from stalling near the minor trend line which was tested as reistance. A continuation of the bearish momentum could potentially push the EURUSD lower again. Price action will need to break past the previously established lows at 1.1334 level to push lower to 1.1273 level of support. To the upside, the common currency will need to break past the current local highs formed to recover the losses completely. Overall, the EURUSD remains range bound within 1.1451 – 1.1273 levels of resistance and support respectively.
