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