EURUSD (1.1761): The EURUSD gapped lower this morning, but price action was seen reversing the losses, filling up Friday’s closing gap. Price action remains supported above the 1.1730 level of support. This suggests a potential near term upside in prices. However, with the resistance level established near 1.1843 – 1.1822, the gains might be limited to this level. Only a break out above this resistance will signal any further gains that could see EURUSD rally towards 1.1920 level of resistance. To the downside, the next support is seen at 1.1710 – 1.1688 level where the declines could be halted.
