EURUSD (1.2325): The EURUSD was see trading with Friday’s range with price action forming an inside bar. The breakout from the inside bar could potentially indicate the near term bias. We expect to see EURUSD continuing to push lower following the consolidation at the resistance level at 1.2333 – 1.2635. The downside target towards 1.2090 remains in play as long as the resistance level holds the gains in the near term. A convincing close above the resistance level could shift the bias to the upside with the common currency likely to target 1.2443.
