- The EUR/USD pair continues to move with an upside bias but still limited by 1.1800. Today it failed to trade on top and after approaching the mentioned level lost strength.
- The key level to the downside is seen at 1.1720/30: a horizontal support and also an uptrend line. A break lower is likely to trigger more losses, exposing 1.1700. The next strong support stands at around 1.1650.
- To tone is still biased to the upside as EUR/USD holds on top of 1.1720 but it is consolidating of the third day in a row, showing difficulties near 1.1800. A firm break higher targets 1.1850 (resistance is seen at 1.1815 and above at 1.1835).
- Ahead of the Asian session, the pair is expected to trade in ranges, probably 1.1760/1.1780 but if it drops under 1.1760 (20-hour moving average) the range could change to 1.1740/1.1760.
EUR/USD 15-minute chart
EUR/USD 240-minute chart
Daily high: 1.1793
Daily low: 1.1730