EURUSD (1.1836): The EURUSD posted strong gains by yesterday’s close. This comes following the spinning bottom pattern formed the day before. As a result, EURUSD is now seen testing the previous resistance level of 1.1843 – 1.1822 region. We expect the gains to hold out here. However, a breakout above this resistance will put the EURUSD back on a bullish path with a test towards the 1.1900 level being quite likely. However, in the event that the resistance level holds out, EURUSD could be seen falling back from this resistance level to trade within the previously established range.
