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EURUSD moved sideways in a range between 1.3575 and 1.3650

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 15, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD moved sideways in a range between 1.3575 and 1.3650. The price action in the range is likely consolidation of the downtrend from 1.3700. As long as 1.3650 resistance holds, the downtrend could be expected to resume, and another fall to test 1.3502 support is possible. On the upside, a break above 1.3650 resistance will suggest that the uptrend from 1.3512 has resumed, then next target would be at 1.3800 area.

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