EURUSD (1.1739): The EURUSD posted declines for a second day. Price action broke to the downside from the inside bar that was formed on Monday. This potentially suggests some downside in prices. However, on the 4-hour chart, after a brief break down below the main support at 1.1730, EURUSD managed to recover back above this level. We could expect to see some consolidation taking place in the near term with the potential for the currency pair to rebound back to 1.1800. Only a confirmed close below 1.1730 will signal further declines towards 1.1635.
