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.

Joshua Gibson FXStreet

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)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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