EUR/USD Technical Analysis: threatening to go rangebound near 1.1650


  • The EUR/USD could be set to make a continuation from last week's bounce off of a new bottom after slipping from last week's highs.
  • Failure to jumpstart a bullish correction into recent swing highs could see the pair roll back over into a bearish continuation.
  • Daily candles have the major pair constrained in a sideways wedge, traders will be looking for a decisive break to establish a new trend.

EUR/USD Chart, 15-Minute

Spot rate:  1.1654
Relative change:  -0.03%
High:  1.1664
Low:  1.1649
   
Trend:  Flat to bullish
   
Support 1:  1.1619 (previous week low)
Support 2:  1.1602 (S2 daily pivot)
Support 3:  1.1574 (one month low)
   
Resistance 1:  1.1664 (current week high)
Resistance 2:  1.1696 (61.8% Fibo retracement level)
Resistance 3: 1.1750 (previous week high)

 

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