EURUSD (1.1651): The EURUSD currency pair managed to turn bullish on Friday following through from Thursday’s gains. Price action posted a rebound off the support level near 1.1539 level with the bullish divergence being validated on the 4-hour chart. To the upside, we now expect the currency pair to test the resistance level at 1.1730 and the EURUSD could potentially turn into a sideways range within these levels. A breakout above 1.1730 could trigger further gains toward the 1.1824 – 1.1846 level of resistance. To the downside, the declines are limited as long as the support at 1.1610 is not breached.
