EURUSD continued to post strong gains as the currency pair broke toward 1.1900 briefly last week. However, a strongly better than expected nonfarm payrolls for the month of July sent the U.S. dollar stronger. EURUSD closed bearish as a result. Price action briefly dipped to 1.1728 as a result before the common currency posted a pull back. As a result, we expect EURUSD to remain range bound above 1.1728 before further declines can be expected. Watch for a break down below 1.1728 support in which case, EURUSD could see testing 1.1565 support lower. For the moment, the upside momentum has likely been exhausted and further gains can be seen coming only on a close above the previous highs..