EURUSD (1.2331): The EURUSD continued to post declines for the third consecutive day yesterday. However, price action is limited within the range established in the past month. Currently, EURUSD is seen consolidating near the support level of 1.2363 – 1.2333 region. There is a potential for EURUSD to post a rebound of this level. This could send EURUSD back to test the minor resistance level at 1.2443. Alternately, if EURUSD breaks past the support level, the declines could see EURUSD falling to the 9 February lows of 1.2205 where support could be established. Further downside momentum could see EURUSD testing the major support level at 1.2090 – 1.2070.
:%20The%20EURUSD%20continued%20to%20post%20declines%20for%20the%20third%20consecutive%20day%20yesterday.%20However,%20price%20action%20is%20limited%20within%20the%20range%20established%20in%20the%20past%20month.%20Currently,%20EURUSD%20is%20seen%20consolidating%20near%20the%20support%20level%20of%201.2363%20-%201.2333%20region.%20There%20is%20a%20potential%20for%20EURUSD%20to%20post%20a%20rebound%20of%20this%20level.%20This%20could%20send%20EURUSD%20back%20to%20test%20the%20minor%20resistance%20level%20at%201.2443.%20Alternately,%20if%20EURUSD%20breaks%20past%20the%20support%20level,%20the%20declines%20could%20see%20EURUSD%20falling%20to%20the%209%20February%20lows%20of%201.2205%20where%20support%20could%20be%20established.%20Further%20downside%20momentum%20could%20see%20EURUSD%20testing%20the%20major%20support%20level%20at%201.2090%20-%201.2070.){kind=link}