30 Jul 2018
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) |