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Forex Forum → Market Analysis → EURUSD Consolidates With Downside Bias

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Topic: EURUSD Consolidates With Downside Bias

EURUSD: With the pair facing consolidation threats, directional move is now a challenge. Resistance comes in at 1.1700 level with a cut through here opening the door for more upside towards the 1.1750 level. Further up, resistance lies at the 1.1800 level where a break will expose the 1.1850 level. Conversely, support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. Below here will open the door for more weakness towards the 1.1450. All in all, EURUSD faces further consolidation threats.

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