EURUSD (1.1409): The EURUSD currency pair extended heavy losses on the day as the common currency fell sharply due to economic data and dovish comments from ECB’s Draghi. The Euro slipped below the support of 1.1461, and it should trade sideways once again unless it breaches the 1.1461 which now is likely to act as resistance. To the downside, there is a risk of a decline to 1.1200, which is the lower support. Currently, the Euro holds off the dynamic support of the rising trend line.
