EURUSD (1.1618): The EURUSD currency pair posted a strong rebound off the support level at 1.1540, to close at a two day high. Price action remains range bound within 1.1730 resistance and the said support level. On the 4-hour chart, the retracement is seen around the 38.2% level currently. Further gains could see price action rising toward 1.1664 marking a 61.8% retracement. We expect some moderation in the correction and as long as the support holds, the currency pair could be looking at changing the flat movement
