EURUSD (1.1848): The EURUSD was bearish yesterday but with price action rallying above the support area of 1.1843 – 1.1822 the declines are likely to be limited. In the overnight session, the EURUSD was seen falling back into the support level and currently attempting to push higher. A convincing close above this support area is required to build confidence to the upside. Price action could be targeting the unfilled gap at 1.19448 as a result. However, in the event of price failing to hold the gains, we could expect the downside risks building up. Lower support at 1.1720 comes back into focus with a potential for EURUSD to post further declines on a break down below 1.1688
