EURUSD is trading near the downward loping trend line and a horizontal resistance line signifying limited upside potential. Further the pair has been trading in small body candlestick formations near the mentioned resistance level since last six trading sessions, indicating a trend reversal could be witnessed. RSI has also flattened since mid-November supporting our observation. It would be prudent to say that EURUSD could decline towards 1.1850 & 1.1810 while it sustains below 1.1925.
Technical Analysis Team
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