EUR/USD Technical Analysis: Remains on consolidation, supported by 1.1650

The EUR/USD pair found support at 1.1650 and bounced to the upside, holding in a consolidation range, moving sideways in the short-term.
A break under 1.1650 could change the short-term bias to the downside, exposing 1.1600 (before that level, support is seen at 1.1625).
As long as EUR/USD holds above 1.1650 (horizontal level and short-term uptrend line) another test of 1.1720 could take place. Above the next strong barrier is seen at 1.1745/50, a medium-term resistance that if broken would clear the way to more gains.

Matías Salord FXStreet

EUR/USD 15-minute chart

Daily high: 1.1714
Daily low: 1.1649

Support Levels

S1: 1.1650
S2: 1.1620
S3: 1.1605

Resistance Levels

R1: 1.1690
R2: 1.1725
R3: 1.1750

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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