EURUSD Daily Analysis – August 14, 2017

EURUSD’s bounce from 1.1689 extended to as high as 1.1847. Further rise to test 1.1909 resistance would likely be seen. However, as long as 1.1909 resistance holds, the downside movement could be expected to resume and another fall towards the bottom support trend line of the price channel on its daily chart is still possible.

EURUSD 4-hour chart