EURUSD Consolidating Near Trend Line And Support

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The euro currency is holding somewhat steady after the support area near the 1.1750 handle looks to be strong for the moment.

The trend line is, however, holding up as resistance level. The decline to this region suggests strong support is holding up, given the rebound from earlier last week.

However, unless the currency pair manages to breakout higher, we could expect a descending triangle pattern to emerge.

This will increase the bearish odds for EURUSD. Below the 1.1750 handle, the next main support is near the 1.1600 region next.

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