EURUSD Weekly Analysis – April 12, 2020

EURUSD moved sideways in a trading range between 1.0635 and 1.1147. As long as 1.1147 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 1.1496, and further decline to 1.0400 area is possible after the consolidation, only break above 1.1147 resistance could trigger another rise towards 1.1500.

EURUSD daily chart