EURUSD Daily Analysis – August 16, 2017

EURUSD is facing 1.1689 support. A breakdown below this level will trigger another fall towards the bottom support trend line of the price channel on its daily chart, now at around 1.1560. On the other side, as long as 1.1689 support holds, the sideways consolidation in a trading range between 1.1689 and 1.1909 could be expected to continue and further rise towards 1.2000 is possible after the consolidation.

EURUSD 4-hour chart