EUR/USD Price Analysis: Extra rangebound on the cards

EUR/USD extends the consolidative mood at/above the 1.18 mark.
Extra losses appear contained near 1.1790 for the time being.

Pablo Piovano FXStreet

EUR/USD has entered into a consolidative phase around the 1.18 level in tandem with the prevailing cautiousness ahead of the ECB event on Thursday.

The continuation of the side-lined mood seems likely at least in the very near-term. A break of this multi-session consolidation in either direction is expected to face a deeper pullback to the 1.1700 area, while the resumption of the bull trend is seen facing an initial hurdle at 1.1880.

Looking at the broader scenario, the bullish view on EUR/USD is expected to remain unchanged as long as the pair trades above the critical 200-day SMA, today at 1.1304.

EUR/USD daily chart

EUR/USD

Overview
Today last price	1.1831
Today Daily Change	0.0021
Today Daily Change %	0.18
Today daily open	1.181

Trends
Daily SMA20	1.1774
Daily SMA50	1.1797
Daily SMA100	1.1638
Daily SMA200	1.1302

Levels
Previous Daily High	1.1862
Previous Daily Low	1.1803
Previous Weekly High	1.1881
Previous Weekly Low	1.1703
Previous Monthly High	1.2011
Previous Monthly Low	1.1612
Daily Fibonacci 38.2%	1.1826
Daily Fibonacci 61.8%	1.1839
Daily Pivot Point S1	1.1788
Daily Pivot Point S2	1.1767
Daily Pivot Point S3	1.173
Daily Pivot Point R1	1.1847
Daily Pivot Point R2	1.1884
Daily Pivot Point R3	1.1905

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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