Attached is the 1H chart for EURUSD. As expected, this pair continued to range yesterday as well though the low of the range was a bit less than what was expected. But considering the fall in other pairs like GU, GJ etc., the fall in this pair was smaller and also within the expected range.
After the fall yesterday, we have seen this pair again move up into the nice range that it has been for the past so many days. Not much of a major news is expected from any country today except for a bit of news from GB. So, i do not expect this pair to be affected much and i would expect this pair to continue to range today as well within the ranges that were mentioned yesterday.
What has also been shown yesterday is the strength of this pair in the fact that this pair has refused to fall even considering the huge fall in other pair. So buying dips is the way to go on this pair.
Just to repeat, on the downside, this pair has support at 1.3920 and then at 1.3885 and i do not expect this support to be broken today. On the upside, the resistance would be at 1.40 and then at 1.4060 and then a strong one at 1.41. Expect more ranging today with bias to the upside.
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