EURUSD (1.1685): The EURUSD closed bearish yesterday after briefly reaching for a new 3-year high. The common currency fell following a brief gain in the US dollar index. Still, the declines are expected to be limited to the immediate support found at 1.635. Only a breach of this support will spell further weakness in the currency pair. The next main technical support sits at 1.1475 which could be tested in the short-term basis. Alternately, a reversal at 1.1635 will keep the EURUSD supported to the upside. But price action will need to push higher in order to maintain the steady pace of gains.
