EURUSD (1.1574): The Euro currency posted gains on Monday as price action managed to rebound off the support. However, price action managed to post a lower high, resulting in a near double top pattern. The common currency could be seen testing the lower support at 1.1547. A break down below this support could signal further declines and in turn, validate the double top pattern. The minimum downside we expect to see is for the EURUSD to touch 1.1500 level. Alternately, to the upside, a close above 1.1604 could trigger further gains.
