EURUSD: Consolidates Around 1.1800 Level…
The outlook in EURUSD has turned neutral at the moment. Support comes at 1.1800 levels while resistance comes at 1.1875/1.1938 levels. On the upside, Stability above 1.1800 level on a daily closing basis will keep pushing on the 1.1875/1.1938 levels. A halt is likely, it may turn lower from here. However; A break will extend the bullish move to 1.1995 levels, further upside, resistance comes in the 1.2060 levels…
On the downside, immediate support comes in the 1.1800 levels. A daily closing back below 1.1800 level will turn the focus back to 1.1735 levels where a cut will aim the 1.1685 levels.
In conclusion: The EURUSD sees sideways move within 1.1700/1.1900 range…
Support: 1.1800, 1.1735, 1.1685, 1.1625
Resistance: 1.1875, 1.1938, 1.1995, 12060
Trend Direction:
Light bullish: Above 1.1800
Bullish: Above 1.1938
Light Bearish: Below 1.1800
Bearish: Below 1.1685
Key data/events which may affect EURUSD today:
- (Core) Retail Sales (MoM) (Jul)at 12:30 GMT.
