EURUSD Rebounds from a Two-Month Low

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The euro currency is posting gains for the first time in four days. The rebound comes after the common currency touched down to a two-month low earlier on Thursday.

However, the reversal came just a few pips away from the 1.1600 round-number support.

If the current rebound sustains, we could see the euro rising back to the 1.1715 level.

But if resistance forms here, we could expect prices to drift back lower.

This could mean that the EURUSD might drift sideways between the 1.1715 and 1.1600 region in the near term.

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