EUR/USD Technical Analysis: Euro losses strength, favors ongoing consolidation

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  • The recovery of the euro lost strength after being rejected from above 1.1600. The intraday tone now looks neutral while a break below 1.1575 (short-term uptrend line) would add to the negative tone, exposing daily lows at 1.1565. A consolidating below the last one, would target 1.1555 and then a test of 1.1525/30. 
  • If EUR/USD holds above 1.1575, it would remain neutral; if it gains momentums and rises back above 1.1600 and remains on top, further gains to the 1.1620 zone are likely. 
  • On a wider perspective, a consolidation between 1.1520 and 1.1610 is set to remain in place. A significant close outside of the range is needed for a clear signal. 

EUR/USD 15-minutes chart


	EUR/USD Technical Analysis: Euro losses strength, favors ongoing consolidation

Daily high: 1.1620
Daily low: 1.1565

Support Levels

S1: 1.1560
S2: 1.1530
S3: 1.1500

Resistance Levels

R1: 1.1600
R2: 1.1620/25
R3: 1.1650

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