EURUSD (1.1807): The EURUSD posted gains yesterday as the common currency rallied back above the price of 1.1800. The modest gains put the EURUSD back into the range of 1.1880 and 1.1800. This comes after price rebounded to the upside following the test of support at 1.1688. The upside breakout from the descending triangle puts the target for EURUSD towards 1.1882 which marks the previous resistance level. Any near-term dips in price could see a retest of the breakout level. This bullish bias will change only on a breakdown below the support at 1.1688. Below this support level, the next downside target for the EURUSD will be 1.1552.
