EURUSD Daily Analysis – August 23, 2017

EURUSD moved sideways in a trading range between 1.1662 and 1.1909. The sideways movement could be treated as consolidation of the uptrend from 1.0569 (Apr 10 low), and deeper decline towards the bottom support trend line of the price channel on its daily chart to complete the consolidation is possible. Resistance is at 1.1909, only a breakout of this level could signal resumption of ht uptrend.

EURUSD 4-hour chart