EURUSD Daily Analysis – July 13, 2017

After touching 1.1450 key resistance, EURUSD pulled back to 1.1390 area, indicating that lengthier consolidation for the uptrend from 1.1118 is needed. Deeper decline could be expected in a couple of days and the target would be at 1.1350 area. However, as long as 1.1312 support holds, the uptrend from 1.1118 could be expected to resume and another rise towards 1.1600 is still possible after the consolidation. Resistance is now at 1.1489, a break above this level could signal resumption of the uptrend.

EURUSD 4-hour chart