EURUSD (1.1953): Following a sharp decline of the 1.1950 level, the EURUSD managed to recover. Price action remains firmly range bound within the 1.2058 and 1.1822 levels of resistance and support. On the daily chart, the rising wedge pattern remains in play with the current level of 1.1950 proving to be a key level for the euro. A breakout above this level could signal a continuation to the upside, in which case we can expect gains towards 1.2090. To the downside, support at 1.1822 will be an important level as a breakdown below this level could signal a move to the lower support at 1.1672.
