EURUSD Daily Analysis – September 20, 2017

EURUSD formed a sideways consolidation in a trading range between 1.1823 and 1.2092. Key support is now at 1.1823, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.0569 (Apr 10 low). Another rise could be expected after the consolidation and a break above 1.2092 resistance could trigger another rise towards 1.2165. However, a downward break of 1.1823 support would suggest that the uptrend had competed at 1.2092 already, then the pair would fall down to next support level at 1.1662.

EURUSD 4-hour chart