EURUSD Daily Analysis – April 18, 2017

EURUSD continues its sideways movement in a trading range between 1.0569 and 1.0689. The key resistance is at 1.0689, as long as the pair is below this level, the sideways movement could be treated as consolidation of the downtrend from 1.0905, and further decline to 1.0400 area could be expected after the consolidation. However, a break of 1.0689 resistance will indicate that lengthier correction for the downtrend is underway, then the following rebound could bring price to 1.0750 area.

EURUSD chart