EURUSD (1.1866): The euro managed to post another day of gains, marking a three-day winning streak.
Price action managed to rise above the 1.1843 – 1.1822 region of resistance and the currency pair looks set to target the 1.1920 resistance further up. In the near term, any declines could be limited to the recently breached resistance level. Establishing support here could signal further gains in the short term and validates the upside bias. Alternately, if EURUSD fails to hold near the support we could expect to see price action decline as the currency pair is likely to settle into a range once again.