EURUSD remains in range trading; US GDP data in focus
|EURUSD extends consolidation within 1.1166/1.1268 range for the fifth consecutive day after broader bulls stalled at 1.1268 (2017 high) and downside attempts were so far contained by Fibo 23.6% of 1.0839/1.1268 upleg at 1.1166, reinforced by the top of thick 4-hr cloud / 10SMA.
Bullish technicals suggest further upside towards next target at 1.1313 (Fibo 76.4% of 1.1614/1.0340) but bulls may be dented by extended daily studies (RSI is attempting to reverse from overbought territory).
Stronger bearish signal could be expected on break below 1.1166 pivot that would trigger further weakness towards 1.1121 (daily Tenkan-sen) and 1.1104 (Fibo 38.2% of 1.0839/1.1268) and confirm correction on break.
US GDP data, due later today, are eyed for stronger direction signals.
Res: 1.1250; 1.1268; 1.1299; 1.1313
Sup: 1.1183; 1.1166; 1.1121; 1.1104
Interested in EURUSD technicals? Check out the key levels
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