EUR/USD Price Analysis: Extra consolidation on the cards

EUR/USD is prolonging the side-line trading around 1.1800.
The 1.1770/50 band emerges as a temporary support so far.

Pablo Piovano FXStreet

EUR/USD extends the side-lined mood so far this week, always amidst the increasing cautiousness among market participants in light of Powell’s speech at the Jackson Hole Symposium.

The multi-session consolidative range stays unchanged between 1.1750 and 1.1850 in the short-term horizon. Further south of this range should lead to a probable test of the more relevant contention band at 1.1700/1.1690, where coincide monthly lows and a Fibo level (of the 2017-2018 decline). On the flip side, interim hurdle aligns at 1.1916 (August 6 top) ahead of the 2020 high at 1.1965 (August 18).

The bullish view on EUR/USD, in the meantime, is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1157.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1806
Today Daily Change	48
Today Daily Change %	-0.20
Today daily open	1.183

Trends
Daily SMA20	1.1819
Daily SMA50	1.1555
Daily SMA100	1.1273
Daily SMA200	1.1156

Levels
Previous Daily High	1.1839
Previous Daily Low	1.1772
Previous Weekly High	1.1966
Previous Weekly Low	1.1754
Previous Monthly High	1.1909
Previous Monthly Low	1.1185
Daily Fibonacci 38.2%	1.1798
Daily Fibonacci 61.8%	1.1814
Daily Pivot Point S1	1.1789
Daily Pivot Point S2	1.1747
Daily Pivot Point S3	1.1722
Daily Pivot Point R1	1.1856
Daily Pivot Point R2	1.1881
Daily Pivot Point R3	1.1923

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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