EURUSD: Vulnerable, Sees Corrective Threats!
With EURUSD failing to continue higher through the 1.1784 levels, a short-term resistance has been printed around that level, while its immediate risk remains higher above the 1.1668 levels, the EURUSD will have to break and hold above the 1.1784 levels to prevent a return to the downside If seen it will target the 1.1850 levels a halt is likely, but a breakthrough the 1.1850 levels will aim the 1.1940 levels, further upside, resistance comes at the 1.2030 levels.
On the downside, immediate support stands around 1.1730 levels where a cut will aim the 1.1668 levels, it may turn higher from here but if this fails to happen, the pair will correct lower to the 1.1608 levels.
Conclusion: The EURUSD sees corrective pullback threats as long as trades below the 1.1784 levels on a daily closing basis. A daily closing above the 1.1784 levels will restore the upside momentum. Expected Range: 1.1608 – 1.1800.
Support: 1.1478, 1.1525, 1.1608, 1.1668, 1.1730
Resistance: 1.1784, 1.1850, 1.1940, 12030, 1.2137
Key data/events which may affect EURUSD today:
U.S CB Consumer Confidence (Sep) at 14:00 GMT