Will EURUSD post a lower high?

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The euro currency is trading modestly following last Friday’s declines.

However, the currency pair remains strong with an upside bias.

At the moment, price action indicates a low forming around the 1.1287 level.

A rebound off this price level should see another attempt to rise higher.

However, if EURUSD fails to breakout above the previous higher close at 1.1350, then we expect a move lower.

A breakdown below 1.1287 will signal a move to the 1.1132 level where technical support will most likely form.

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