EURUSD Daily Analysis – October 6, 2017

EURUSD stays in a trading range between 1.1696 and 1.1832, and is now facing 1.1696 support. A breakdown below this level could signal resumption of the downtrend from 1.2092, then deeper decline to test 1.1662 key support could be seen. If this level gives way, the pair would extend its bearish movement towards the resistance-turned-support trend line on the weekly chart, now at 1.1415. On the other side, as long as 1.1696 support holds, the range trading could be expected to continue and another rise to test 1.1832 resistance is still possible. Above this level could bring price to 1.1900 area.

EURUSD 4-hour chart