Analysis


EURUSD Daily Analysis

EURUSD continued its sideways movement in a trading range between 1.1526 and 1.1659. As long as 1.1659 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.1733 and a breakdown below 1.1526 support could trigger further downside movement towards 1.1400. On the upside, a breakout of 1.1659 resistance would indicate that the uptrend from 1.1301 has resumed, then next target would be at 1.1800 area.