EURUSD Daily Analysis – August 9, 2018

EURUSD is testing 1.1620 resistance. As long as this level holds, the downtrend from 1.1746 could be expected to resume and another fall towards 1.1500 is possible after the consolidation. On the upside, a clear break above 1.1620 resistance would indicate that the downside movement had completed at 1.1530 already, then the pair would find next resistance level at around 1.1660.

EURUSD 4-hour chart